The post Chinese Official Sentenced to Life for Selling State Secrets to Cover Crypto Debts appeared first on Coinpedia Fintech News
In an extremely sensitive and unusual scandal for Chinese state security, Wang – a young official – has been given a life term over his act of spying on his country and leaking data to cover losses from Bitcoin operations.
On November 8, China’s Ministry of State Security reported about the sentencing through its website, stating Wang’s crypto debts prompted him to look for a second job and he openly disclosed his civil servant status in a forum. They said to him, ‘For such and such sum of money, we want you to go and spy for us,’ etc.
Crypto Debts Lead To Espionage
Run to debts accrued from infamous cryptocurrencies, Wang slowly fell into the trap of black marketing sensitive information obtained from his secret organization to foreigners. He was accused of providing details about production assignments and investigations for more than one million yuan in cryptocurrency trade.
At first, the leaked information was small, but as concerns about financial problems appeared, he disseminated more critical information.
Also Read : Crypto Hacks in October Drain $129 Million – What Went Wrong? ,
National Security Compromised and the Outcomes
The incident gives insight into a major weakness that exists in China’s national security system. Wang’s superiors said that his unit did not have adequate security procedures and that authorities wanted action to be taken to avoid similar incidents in the future.
People’s Court sentenced Wang to life imprisonment plus depriving him of political rights which is an indication of how seriously Chinese and this type of regime takes compromising state secrets.
