According to ChainCatcher news and the Worker’s Daily report, the Beijing People's Procuratorate released information on the 'Procuratorial Protection of Enterprises' special action and published typical cases. In a case of embezzlement, the defendant defrauded the company of over 140 million yuan, and the procuratorial authorities tracked the virtual currency to recover losses.
Between 2020 and 2021, Feng took advantage of his position while working for a service provider at a technology company, conspiring with Tang and Yang to defraud the company of over 140 million yuan in service provider rewards. Subsequently, Feng directed Tang and Yang to use 8 overseas virtual currency trading platforms to convert the money involved in the case from yuan to virtual currencies, obscuring the source and nature of the funds through overseas 'mixing' platforms, transferring them in virtual currency form through multiple levels, with some of the involved funds flowing into accounts controlled by Feng and others in yuan form, while some were concealed by Feng and others in virtual currency form.
The procuratorial authorities conducted a line-by-line comparison and two-way review of virtual currencies and legal currencies in response to the defendants' actions of distributing profits using virtual currencies and obscuring the flow of funds through overseas 'mixing' platforms, accurately clarifying the flow of funds, ultimately prompting Feng to return 92 bitcoins, recovering more than 89 million yuan in stolen money, thereby maximizing the economic losses of the victimized unit.
On September 14, 2024, the Beijing First Intermediate People's Court made a judgment, sentencing the defendant Feng and 6 others for the crime of embezzlement, with prison terms ranging from 14 years and 6 months to 3 years, and imposing corresponding fines. The judgment has taken effect.
