China may prohibit its citizens from buying and selling crypto, but it’s more than willing to use digital assets when paying foreign spies.
That’s the takeaway after eight current and former military officers were sentenced on Thursday to prison terms ranging from 18 months to 13 years for violating Taiwan’s National Security Act and the Criminal Code of the Armed Forces.
The individuals were recruited to build a spy network for Beijing, according to Taiwan’s Central News Agency.
And, according to the Taoyuan City Investigation Office of the Bureau of Investigation, they were paid in crypto — although it’s not clear if it was the only payment method used.
“This case effectively halted the continued leak of military secrets and uncovered the Chinese Communist Party’s new criminal tactic of offering bribes in the form of virtual currency,” the bureau said in a statement.
While the total amount of crypto involved in the bribes remains unclear, Taiwan is trying to stem a rising tide of espionage cases involving digital currencies.
In March, for example, Ma Chih-wei, a People’s Party candidate for the Taoyuan City legislative committee, was indicted after allegedly receiving over $30,000 in Tether from Chinese sources to support her political campaign.
Crypto-related crime has also been booming in Taiwan, pushing candidates’ in this year’s elections to call for a crackdown on fraud, including those involving crypto.
Callan Quinn is an Asia Correspondent for DL News. Got a tip? Email her at callan@dlnews.com.