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Crypto Crime Still Rising in China Despite Crackdown, Warn Authorities
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Reports from Chinese provincial law enforcement agencies appear to show that crypto crime is still on the up – despite a nationwide crackdown on crypto and mining exacted in September this year.
According to Xinmin, counterfeit currency-related crime is “declining significantly” in Shanghai, per officials speaking at a Songjiang Procuratorate press conference. However, the procuratorate claimed that criminal cases where perpetrators “make use of virtual currency as a criminal tool” are on the rise, incorporating new types of fraud and “causing larger losses to citizens.”
The procuratorate stated that all but one of the cases its currency fraud-related crimes unit had handled thus far this year had been linked to crypto in some form. It also
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