According to PandoraTech News, the People's Daily recently reported that a major internal corruption case broke out at a well-known short video platform company in Haidian District, Beijing, involving a total amount of 140 million yuan. The suspects used virtual currency to launder money, and the case has been sentenced by the court as a serious criminal offense.

The main culprit, Feng, was a core member of the platform's operations department. He exploited his position to collude with external suppliers, exploiting vulnerabilities in the company's reward system and leaking critical internal data, illegally embezzling large sums of funds. Feng then instructed gang members Tang and Yang to register multiple shell companies and convert the proceeds into cryptocurrencies such as Bitcoin on eight overseas virtual currency trading platforms.

What is even more shocking is that in order to completely block the tracing path of the flow of funds, the gang also used "currency mixing technology" - using technical means to confuse the transaction chain and achieve the purpose of "privacy money laundering".

Ultimately, the court sentenced Feng and seven others to prison terms ranging from three to fourteen years and six months, and imposed fines ranging from 20,000 to 300,000 yuan. The verdict has now taken effect.

The procuratorate reminds: Against the backdrop of the rapid development of the digital economy, companies urgently need to establish a risk identification system for encrypted assets to strictly prevent the escalation of hidden crimes such as "high technology + official corruption."

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