Former Kuaishou executives involved in corruption 140 million used bitcoin to launder money, setting a new record for corruption in big factories

Feng Dian, the former general manager of Kuaishou's e-commerce service provider operation center, was sentenced for duty-related embezzlement. The amount involved was as high as 140 million yuan, setting a new record for corruption in major Internet factories. Feng Dian used his power to design loopholes in subsidy policies, colluded with suppliers to submit false application materials, transferred the company's subsidy funds to self-control accounts, and exchanged the stolen money for virtual currencies such as bitcoin through 8 different overseas virtual currency trading platforms. The case has been sentenced recently. Feng Dian and a gang of 7 people were sentenced to prison terms ranging from 3 to 14 years and 6 months for the crime of embezzlement, and recovered more than 90 bitcoins hidden. ("Financial Story Hui")