Former Kuaishou Executive Suspected of Embezzling 140 Million Yuan, Laundering Money Through Bitcoin, Has Surrendered Over 90 Bitcoins

BlockBeats News, August 26th. At the end of July this year, according to People's Daily, Feng Dian, former general manager of the operation center of Kuaishou's e-commerce service provider, illegally embezzled 140 million yuan of reward money that should have been given to service providers and operators. He then used an overseas virtual currency exchange platform to convert the stolen money into Bitcoin and other cryptocurrencies for money laundering. The court ruling shows that Feng Dian and 7 others were sentenced to three to fourteen and a half years in prison for the crime of embezzlement, with corresponding fines, and surrendered more than 90 hidden Bitcoins. The amount involved in this case set a corruption record among Internet giants.