State-affiliated newspaper warns of fraudsters demanding Bitcoin to suppress fabricated investigative reports on companies.
China Business Journal, a state-affiliated publication, issued a warning about a Bitcoin extortion scheme impersonating its reporters. Scammers contacted businesses via Proton Mail, threatening to publish damaging investigative reports unless paid in Bitcoin.
The newspaper, published by a government-run academic institution, stated the emails were unauthorized and likely fraudulent. It confirmed it was gathering evidence and considering legal action against the perpetrators. The scam highlights rising risks of cryptocurrency-based fraud in corporate extortion cases.
No immediate market reaction was reported, but the incident underscores regulatory concerns over digital asset misuse in financial crimes.