Bitcoin Backfire: How A $20-M Employee Heist Crashed Into Prison Time

Description

In Beijing, prosecutors have jailed eight people for running a year‑long Bitcoin scam that drained over 140 million yuan—around $20 million—from a short‐video platform and then funneled the cash into crypto. According to a White Paper released by the People’s Procuratorate of Haidian District, the case ranks among the most complex anti‑corruption cases handled between 2020 and 2024. What began as simple bonus approvals inside the company turned into a year‑long scheme that hid stolen funds behin...