Breaking News: Beijing Police Bust Illegal Sale of Citizen Information Involving $282M Crypto
In a massive crackdown, Beijing authorities, in collaboration with the State Administration of Foreign Exchange, have dismantled a sophisticated operation selling citizens' personal data using cryptocurrency.
The investigation, spanning 15 provinces and cities, unearthed crypto transactions exceeding $282 million. The operation, described as a "serial case," employed diverse criminal methods, from dark web transactions to illegal foreign exchange dealings.
Dark Web Trade in Personal Data:
Per reports, perpetrators utilized the dark web and virtual currencies to peddle private information of Chinese citizens. Information such as ID numbers, phone numbers, and addresses were openly traded within overseas chat groups, raising concerns of precise fraud targeting individuals.
Key Suspect Identified:
Authorities pinpointed Yan Moumou as the central figure orchestrating the illicit transactions. His complex fund sources, distinct from regular speculators, indicated involvement in money laundering for underground banks. Further investigation revealed a higher-level mastermind behind the operation.
Ongoing Crackdown:
This crackdown follows a series of recent actions against crypto-related crimes in China, including the arrest of 21 individuals involved in a major Tether money laundering scheme in Shanxi Province.
The scale and sophistication of these operations underscore the challenges authorities face in regulating cryptocurrency and protecting citizens' data privacy. Stay tuned for updates as the investigation unfolds.
