Chinese Official Gets Life in Prison for Selling State Secrets to Fund Crypto Investments

Former official of China's Ministry of State Security convicted of selling state secrets to pay off crypto investment debts

Chinese official ruined by crypto investments gets life in prison for selling state secrets

A former official of China's Ministry of State Security has been sentenced to life in prison for selling state secrets to fund cryptocurrency investments, according to a report by the South China Morning Post.

The official, identified as Sun Lijun, was a vice minister in the Ministry of State Security, one of China's top intelligence agencies. Sun was arrested in 2020 and charged with selling state secrets and taking bribes.

According to the report, Sun sold state secrets to a foreign agent in order to pay off debts incurred from cryptocurrency investments. Sun had invested heavily in cryptocurrency, but lost a significant amount of money when the market crashed in 2018.

Sun's case is the latest in a series of high-profile arrests of Chinese officials involved in cryptocurrency-related crimes. In 2021, a former official of the China Securities Regulatory Commission was sentenced to 15 years in prison for taking bribes in exchange for approving cryptocurrency exchanges.

The Chinese government has been cracking down on cryptocurrency-related activities in recent years. In 2021, the government banned all cryptocurrency transactions and mining. The government has also been investigating cryptocurrency exchanges and other companies involved in the cryptocurrency industry.

Sun's case is a reminder of the risks of investing in cryptocurrency. Cryptocurrency is a volatile asset, and there is no guarantee that you will make money. If you are considering investing in cryptocurrency, it is important to do your research and understand the risks involved.