TechFlow news, on December 19, according to the Workers' Daily, the Beijing Municipal Procuratorate reported breakthrough results in investigating a major case of embezzlement. Between 2020 and 2021, an employee surnamed Feng from a tech company colluded with accomplices to exploit their positions, fraudulently claiming over 140 million yuan in false bonuses. The suspects converted the illicit funds into cryptocurrency through eight overseas cryptocurrency trading platforms and mixing services in an attempt to conceal the proceeds.
By utilizing blockchain big data analysis, prosecutors successfully traced the cross-border flow of funds, ultimately recovering 92 bitcoins and over 89 million yuan in illicit gains. On September 14, 2024, the Beijing No. 1 Intermediate People's Court issued a final ruling in the case, sentencing seven defendants to fixed-term imprisonment ranging from three years to fourteen years and six months.
