Job Crimes in the Era of Encryption Assets: Case Analysis and Key Information Interpretation

Occupational crimes in my country's criminal law system are not a single crime, but a general term for the abuse of power by staff of state organs, state-owned enterprises and institutions, and groups, implementing behaviors such as embezzlement and bribery. These crimes infringe on citizens' rights, undermine public service norms, and should be subject to criminal penalties according to the law.

Recently, encryption assets have become an increasingly common covert tool in occupational crimes. Whether it is the embezzlement and bribery by government officials or the occupational embezzlement by non-government staff, there is a new trend involving encryption assets. This article will explore the characteristics of occupational crimes in the encryption era and the key information they reveal through several typical cases.

Recent Cases of Cryptocurrency-Related Criminal Offenses

Involvement of senior officials from the Securities Regulatory Commission in cryptocurrency case

Not long ago, a senior official from the Securities Regulatory Commission was investigated for serious disciplinary violations and illegal activities. The official abused regulatory power to profit others in the business related to information technology systems and engaged in power-for-money transactions using virtual currency. According to the announcement, this case is likely to involve bribery.

According to our country's criminal law, if state employees take advantage of their position to solicit or illegally accept property from others for the benefit of others, it constitutes the crime of bribery. The standard for filing a case is usually above 30,000 yuan, and the sentencing varies depending on the amount involved, with a maximum sentence of life imprisonment.

Beijing 140 million yuan virtual currency embezzlement case

In December 2023, the Beijing procuratorial authorities disclosed a major embezzlement case. An employee of a technology company, Feng, took advantage of his position and conspired with others to defraud the company of over 140 million yuan in reward funds.

The suspect converted illicit funds into virtual currencies through multiple overseas encryption cryptocurrency exchanges and used mixing techniques to conceal the source of the funds. Some of the illicit funds flowed into accounts controlled by the suspect in the form of RMB, while others were hidden in the form of virtual currencies.

After the incident, Feng voluntarily returned 92 bitcoins, recovering a total of approximately 89 million yuan. Due to the nature of the victim unit, Feng's behavior was classified as embezzlement. According to the latest regulations, the threshold for filing embezzlement cases has been lowered to 30,000 yuan.

Key Information on Cryptocurrency-related Occupational Crimes Cases

These cases reveal the unique role of encryption assets in occupational crimes, while also reflecting the improved capabilities of law enforcement agencies in responding to such crimes:

1. Significant advancements in investigation technology: Even if criminals use multiple trading platforms and mixers, law enforcement can still reconstruct the flow of funds. Currently, mixing technology may only increase the difficulty of investigation, rather than completely conceal criminal activities.

2. Recovering stolen assets still relies on the cooperation of the suspect: The characteristics of encryption assets pose challenges for asset recovery efforts. If assets are transferred overseas or to cold wallets, judicial authorities find it difficult to directly recover them and often require the suspect's active cooperation.

3. The double-edged sword effect of blockchain technology: Although encryption asset transactions are hidden, once verified, the immutability of the blockchain makes it a powerful piece of evidence.

Conclusion

As the market for encryption assets expands and integrates with traditional finance, its application in occupational crimes may become more prevalent. This poses new challenges for law enforcement agencies, requiring continuous updates to their understanding of encryption technology and investigative methods. At the same time, this serves as a warning to relevant personnel that encryption assets are not a safe haven for evading the law, and one should not harbor the illusion of touching the legal red line.