Crypto Debts Lead To Espionage: Chinese Official Gets Life Term for Spying, Leaking Data to Cover Bitcoin Losses

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

A young Chinese official has been sentenced to life in prison for leaking state secrets to cover losses from Bitcoin operations, in an extremely sensitive and unusual scandal for the country's state security apparatus.

China's Ministry of State Security announced the sentencing on its website on November 8, saying that Wang's crypto debts led him to seek a second job and openly disclose his civil servant status in a forum.

"They told him, 'For such and such sum of money, we want you to go and spy for us,' etc," the statement said.

Crypto debts lead to espionage

Wang gradually fell into the trap of selling sensitive information obtained from his secretive organization to foreigners, to cover debts accrued from the infamous cryptocurrencies, the statement said.

He was accused of providing details about production assignments and investigations for over 1 million yuan in cryptocurrency trade.

At first, the leaked information was minor, but as concerns about his financial problems grew, he disseminated more critical information, it said.

National security compromised, action to follow

The incident highlighted a major weakness in China's national security system, Wang's superiors said, adding that his unit lacked adequate security procedures and that authorities wanted action to be taken to avoid similar incidents in the future.

The People's Court sentenced Wang to life imprisonment plus deprivation of political rights, an indication of how seriously Chinese law and this type of regime take the compromising of state secrets.

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