Zhang Xiaojin, the director of the Fourth Procuratorate of the SPP, also reportedly warned citizens and digital asset participants about investment scams in the local crypto economy.
In a bid to tackle rising cybercrimes, the Supreme People’s Procuratorate (SPP) of China — the country’s highest prosecutorial authority — is targeting criminals using blockchain and metaverse projects for illegal activities. The SPP says it is alarmed by the increase in online fraud, cyber violence and personal information infringement.
The SPP reported a significant rise in cybercrimes committed on blockchains and within the metaverse. Criminals increasingly use cryptocurrencies for money laundering, making it difficult to trace their illicit wealth.
Ge Xiaoyan, deputy prosecutor-general of the SPP, stated that cybercrime-related telecom fraud charges have risen by 64 percent year-on-year. While blockchain-related crimes are rising, traditional crimes such as gambling, theft, pyramid schemes, and counterfeiting have also expanded into cyberspace.
