According to news from Deep Tide TechFlow on July 27, reported by People's Daily, the People's Procuratorate of Haidian District, Beijing, released the (White Paper on Anti-Commercial Corruption Prosecution Work (2020-2024)), disclosing a commercial corruption case involving 140 million yuan.
In the case, an employee of a short video platform named Feng colluded with external suppliers to defraud the company of a reward of 140 million yuan through false application materials. To cover up the source of the funds, Feng instructed accomplices to use eight overseas virtual currency trading platforms to convert the stolen money into Bitcoin and other virtual currencies in batches, and used 'mixing' technology to obscure transaction paths for money laundering.
The prosecution constructed a 'three-stream integration' evidence system through electronic data review, successfully recovering more than 90 Bitcoins. In the end, Feng and six others were sentenced to prison terms ranging from three years to fourteen and a half years for embezzlement.
The prosecution pointed out that current commercial corruption shows a trend of 'upgraded' methods such as using virtual currency for money laundering, with the digital economy becoming a high-incidence area for commercial corruption.
