Chinese Worker Fined for Using VPN, Crypto Hacks and Scams Make Headlines in Asia

Chinese worker fined $145K for using VPN to remotely access restricted sites for foreign employer
City of Hangzhou airdrops 10M digital yuan worth $1.37M to boost food delivery spending during Asian Games
15 arrested in Hong Kong's largest alleged Ponzi scheme involving collapsed crypto exchange JPEX and $191.6M in losses
Crypto exchange CoinEx resumes services after $70M hack by North Korea's Lazarus Group
Alibaba partners with crypto custodian Cobo to launch digital wallet service for developers

cointelegraph.com

Relevant topic timeline:

9/17/2023

Evergrande Employees Detained After Failure to Pay Investors

Chinese police have detained employees at Evergrande Wealth Management, the financial subsidiary of Evergrande, after the company failed to make payments on its investment products, marking the first time employees have been detained; the case is under further investigation.

9/22/2023

Hong Kong Police Probe Alleged $166 Million Cryptocurrency Fraud at Unlicensed JPEX Trading Platform

Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of HK$1.3bn ($166m; £134m) in losses, with eleven people, including popular influencers, being arrested in what could be one of Hong Kong's biggest fraud cases as the city positions itself as a global hub for virtual assets.

9/29/2023

Four More Arrested in Hong Kong Crypto Exchange Investigation, Regulators Tighten Controls

Four more people have been arrested in Hong Kong and Macau in connection with the JPEX crypto exchange scandal, bringing the total number of detentions to 18. One suspect was found destroying documents with paper shredders and bleach, and the incident highlights the need for strong crypto licensing laws.

10/8/2023

Hong Kong Police Arrest 28th Suspect in $200 Million Cryptocurrency Scandal

Hong Kong police have made another arrest in connection with the JPEX cryptocurrency trading platform scandal, bringing the total number of arrests to 28, as the alleged financial fraud case involves HK$1.56 billion and 2,538 victims.

10/18/2023

Luxury-Loving Bitcoin Thief Jimmy Zhong Gets 1 Year for Silk Road Heist

According to CNBC, Jimmy Zhong, who was arrested last year for stealing over 50,000 bitcoins from the Silk Road marketplace, was sentenced to a year and a day in federal prison and forfeited his bitcoin, resulting in a $3 billion profit for the government.

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Posted 9/28/2023, 11:18:02 PM