China bans its citizens from trading cryptocurrencies, but has no qualms about using digital assets to pay foreign spies.
The information came to light after eight current and retired 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 Armed Forces Criminal Code.
According to Taiwan's Central News Agency, the individuals were recruited to set up a spy network for Beijing. Taiwan's Bureau of Investigation said the individuals received their rewards in cryptocurrency, although it is unclear whether this was the only payment method used.
In a statement, the Bureau of Investigation stressed:
“This case not only puts an end to the leaking of military secrets, but also exposes the Chinese Communist Party's new criminal method, which is bribery through virtual currency.”
While the amount of cryptocurrency involved in bribery cases remains unclear, Taiwan is working to stem the rise in espionage cases involving digital currencies.
For example, in March, Ma Zhiwei, a People's Party candidate for the Taoyuan City Legislative Committee, was indicted after allegedly receiving more than $30,000 in USDT from Chinese sources to support his political campaign.
Cryptocurrency-related crimes are on the rise in Taiwan, prompting candidates in this year’s elections to call for an increased crackdown on fraudulent activities, including crypto-related fraud.
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