Cryptocurrency Crisis in China! State Secrets Are Allegedly Sold for Cryptocurrency!

The Chinese government has sentenced a public official identified only as Wang to life imprisonment for espionage after he was found guilty of selling state secrets to a foreign agent.

According to authorities, crypto para Wang, who incurred significant debt due to investment losses, received over 1 million yuan of “spy funds” through digital currency transactions in exchange for confidential information.

The case began when Wang, struggling with financial difficulties, posted on an online forum looking for part-time work and talked about his role as a government official. Soon after, a foreign contact offered him a significant payment for classified information about his unit’s production missions and research progress. Lured by the promise of high compensation, Wang initially hesitated but eventually agreed to share limited information. Over time, attracted by high payments, he began to provide increasingly sensitive documents and information.

Chinese national security authorities discovered Wang’s activities and revealed that he was transferring classified government documents and top-secret information in exchange for digital payments. After investigation, the People’s Court sentenced Wang to life imprisonment and permanently deprived him of his political rights.

The incident also exposed serious shortcomings in Wang’s department’s security practices. While official protocol requires strict processes for handling confidential information, such as document tracking, recording, and safe-use locations, authorities identified significant oversight errors. Wang’s superior reportedly gave him confidential documents without following proper procedures, allowing Wang to keep sensitive materials unsupervised. A subsequent search of Wang’s office found improperly stored documents.

*This is not investment advice.