PANews, August 26 - According to a report by "Finance Story Collection", Feng Dian, the former general manager of the e-commerce service provider operation center at Kuaishou, exploited his position to collude with suppliers to embezzle company subsidy funds, with the amount involved reaching as high as 140 million yuan, setting a new record for corruption in large companies.

Feng Dian's group deceived subsidies through false applications and used overseas virtual currency trading platforms to launder the funds before converting them back to RMB. Ultimately, Feng Dian and 6 others were sentenced for embezzlement and surrendered over 90 bitcoins.