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 announced Wang’s sentencing, explaining that his mounting cryptocurrency debts led him to seek extra income, even revealing his status as a civil servant in online forums. According to the ministry, foreign agents approached him, saying, ‘For such and such sum of money, we want you to go and spy for us,’ etc.
Wang’s financial troubles, largely from risky cryptocurrency investments, drew him into the underworld of black-market data sales. He allegedly sold sensitive information from his security unit, including details on classified production assignments and ongoing investigations, for over a million yuan in cryptocurrency.
Initially, the leaks were minor, but as Wang’s debts grew, he began selling increasingly critical information.
The case has raised concerns within China’s security establishment. Wang’s superiors admitted that his department lacked adequate security procedures, which enabled him to smuggle out sensitive data. In response, authorities are now calling for stronger measures to prevent similar breaches.
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.
The cost is high for betraying one’s own nation – but is the damage done already? Let’s wait for further developments on this story.
The Federal Housing Finance Agency (FHFA) under director William Pulte, has directed Fannie Mae (Federal…
Crypto’s Next Wave – Are You Ready? Crypto enthusiasts, June 2025 has arrived with a…
Crypto traders are rapidly shifting their focus away from Solana (SOL) and Avalanche (AVAX) toward…
Introduction to Unreal Growth of Meme Coins & Crypto Presales The meme coin and crypto…
As Bitcoin continues to hover around the $100,000 mark, experts are debating just how high…
The long-running legal battle between Ripple and the U.S. SEC is once again making headlines.…