🇨🇳 China continues to fight against illegal cryptocurrency activity as the Supreme Court sentenced Zhao Dong, founder of RenrenBit and minority shareholder of Bitfinex, to 7 years in prison.

🔍 This shows the Chinese government's fierceness in punishing illegal activities in this industry.

- Zhao Dong, a prominent figure in the OTC digital asset market and minor shareholder of Bitfinex, has faced legal consequences as authorities step up their fight against cryptocurrency activity illegal.

- Zhao Dong's conviction is part of a broader campaign by Chinese authorities, with a series of eight cases presented as examples of the government's commitment to combating illegal financial activity. legal, especially activities with international elements.

- Chinese authorities have thoroughly investigated, traced and unraveled complex financial transactions, mainly focusing on accounts related to these crimes.

🚨 China's fight against such activities shows a new trend in foreign exchange crimes. Criminals are using more sophisticated methods, including the "hit-back" model, where domestic and foreign funds are moved independently to evade regulatory scrutiny.

🔐 The Supreme Court and the State Administration of Foreign Exchange are unwaveringly committed to ensuring financial security. This collaborative effort aims to create a high-pressure environment for transnational illegal financial activities, ensuring the robustness and integrity of China's financial system.