China’s Prosecutor to Fight Blockchain Cybercrimes

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In order to combat the growing trend of cybercrimes, China’s highest prosecution authority, the Supreme People’s Procuratorate (SPP), is taking action against criminals who use blockchain and metaverse projects for illegal activities.

The SPP has expressed concern over the rise in online fraud, cyber violence, and violations of personal information.

According to the SPP, there has been a significant increase in cybercrimes involving the use of blockchain technology and the metaverse. These criminals often use cryptocurrencies for money laundering, which makes it challenging to track their illicit profits.

Ge Xiaoyan, the deputy prosecutor-general of the SPP, reports that charges related to telecom fraud have risen by 64% compared to the previous year.

While blockchain-related crimes are on the rise, traditional crimes such as gambling, theft, pyramid schemes, and counterfeiting have also expanded into the digital realm.