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China’s Ministry of Public Security Targets Crypto Crimes

Yiran Dai

Summary: China’s Vice Minister of Public Security, Meng Qingfeng, said the ministry would focus on combatting crimes related to cryptocurrency, blockchain, Ponzi scheme posing as P2P platforms, pyramid selling, and more, at a conference on April 24.

China’s Vice Minister of Public Security, Meng Qingfeng, said the ministry would focus on combatting crimes related to cryptocurrency, blockchain, Ponzi scheme posing as P2P platforms, pyramid selling, and more, at a conference on April 24, according to a report from the official account of China’s police force (cpd.com.cn) on Baidu.

A China-based cryptocurrency Ponzi scheme has plundered approximately $11 million worth of Bitcoin within three weeks since its opening, according to a report from Cointelegraph. Antimatter Kingdom (AK) claimed to be “a super mining application group” on the CXC chain. The report also mentioned that a wallet associated with the scam had garnered 1,607 BTC.

By Yiran Dai

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