Crypto Laundering Lands Chinese Exec 14-Year Jail Sentence

Crypto News Regulation

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 30, 2025

Key Takeaways

A Chinese tech firm manager was jailed for over 14 years after embezzling $19.5 million and converting it to crypto;
The funds were laundered through fake claims, foreign exchanges, and cryptocurrency mixers;
Investigators traced the money flow using digital tracking tools and recovered over 90 Bitcoin.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

Crypto Laundering Lands Chinese Exec 14-Year Jail Sentence

BITDEGREE IN YOUR SOCIAL FEED

A former manager at a Chinese tech company has been sentenced to over 14 years in prison for stealing company funds and hiding them through cryptocurrency.

According to South China Morning Post's report on July 29, the Beijing court found that the man, known by the surname Feng, took 140 million yuan (around $19.5 million) while overseeing reward payments at a short video platform.

Prosecutors explained that Feng worked with outside contractors to submit fake claims. The company’s money was then sent to accounts he controlled. From there, the funds were turned into Bitcoin and other digital currencies using eight foreign trading platforms.

What is Aurora in Crypto? NEAR Protocol Token Explained (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

To hide where the money came from, Feng and his partners used crypto mixing tools. However, the authorities were able to follow the money. They recovered over 90 Bitcoin, worth nearly $11 million.

The investigation used digital tracking methods to uncover the full scheme. Prosecutors said they followed the movement of money from the time it was stolen to when it was exchanged and moved abroad. They were also able to connect those exchanges back to Chinese bank accounts.

Prosecutor Li Tao described the case as an example of low-level employees being involved in serious fraud, using crypto to move the money, and companies not having strong enough controls to stop it.

Recently, Rowland Marcus Andrade, the man who launched a cryptocurrency called AML Bitcoin, was sentenced to seven years in prison. What happened? Read the full story.