China Warned Cryptocurrency Users: They Are Cheating With Rewards!

China’s Ministry of National Security has issued some warnings about the illegal collection and dissemination of sensitive map data. In this regard, it launched a concerted effort to combat a scheme using cryptocurrencies. Recent research shows that offshore mapping companies are deceiving local individuals with crypto rewards. This reveals a worrying pattern.

China MNS reveals cryptocurrency-focused data leak scheme

cryptokoin.comAs you follow from , many countries suffer from crypto being used for illegal activities. In its statement, China MNS stated that some offshore mapping companies encourage users to collect data without permission. He noted that this situation poses significant threats to China’s national security. These offshore organizations use a scheme to persuade people. In this vein, they are convincing individuals to use special tools to ‘check in’ on maps. They also promise rewards in virtual currencies as compensation.

But what they don’t know is that this seemingly legitimate mission conceals the illegal acquisition of critical information about transportation networks, key infrastructure and military installations. Moreover, realizing the serious consequences of such data breaches, China MNS has launched a comprehensive fight against this emerging threat. For this purpose, MNS cooperates with relevant units.

China takes strict legal measures

Additionally, China is investigating domestic and foreign entities involved in the illegal collection of sensitive map data. For this purpose, it takes strict legal measures. In addition, it says that the parties involved carried out surveying and mapping activities without the necessary authority. In this context, he underlines that these individuals violate the regulations. This involves violations of key provisions of certain laws, such as the Counterespionage Act. These laws include the Measurement and Mapping Law and the Data Security Law.

What penalties are there for such crimes?

China’s Counterespionage Law provides for severe penalties for individuals, organizations or institutions involved in theft, espionage, bribery or illegal provision of data related to national security interests. Whether organized by foreign entities or in collaboration with domestic counterparts, such activities constitute criminal offences.

A Warning Has Been Made for This Giant Bitcoin Exchange: Beware of Copycats!

The intensified efforts of China’s Ministry of National Security underscore the country’s determination to protect its interests. Moreover, it ensures the integrity of map data in an environment where crypto is increasingly involved in crime. Therefore, China MNS emphasizes that it is imperative for both government bodies and the public to remain vigilant and proactive in identifying and addressing emerging threats to national security arising from the misuse of technology and cryptocurrencies.

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