Blockchain cybercrimes trigger action from China’s national prosecutor
Zhang Xiaojin, the director of China’s Fourth Procuratorate of the Supreme People’s Procuratorate, reportedly cautioned against crypto investment scams for citizens and digital asset participants.
In a bid to tackle rising cybercrimes, the Supreme People’s Procuratorate (SPP) of China — the country’s highest prosecutorial authority — is targeting criminals using blockchain and metaverse projects for illegal activities. The SPP says it is alarmed by the increase in online fraud, cyber violence and personal information infringement.
According to local media outlet China Daily, the SPP reported a significant rise in cybercrimes committed on blockchains and within the metaverse. The agency claims criminals increasingly use cryptocurrencies for money laundering, making it difficult to trace their illicit wealth.
Ge Xiaoyan, deputy prosecutor-general of the SPP, reportedly stated that cybercrime-related telecom fraud charges have risen by 64% year-on-year. While blockchain-related crimes are increasing, traditional crimes such as gambling, theft, pyramid schemes and counterfeiting have also expanded into cyberspace.
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