Blockchain cybercrimes trigger action from China’s national prosecutor

[wellington]

https://cointelegraph.com/news/blockchain-cybercrimes-trigger-china-supreme-procuratorate-action

Procuratorates pressed charges against 280,000 individuals in cybercrime cases between January and November. This reflects a 36% year-on-year increase, constituting 19% of all criminal offenses, as reported by Xiaoyan.

Crazy numbers.

For comparison.

1.7 million people

China's penitentiary systemIn recent years, no exact figures on the number of prisons and detainees have been published by official Chinese sources. However, according to estimates, around 1.7 million people had been detained in 683 prisons in the country as of 2018.

 

[jafo]

1.7 million people

China's penitentiary systemIn recent years, no exact figures on the number of prisons and detainees have been published by official Chinese sources. However, according to estimates, around 1.7 million people had been detained in 683 prisons in the country as of 2018.

Those are very low numbers for China. Super low! I'm surprised it's NOT a lot more. The Chinese prosecuted here have scammed their own countrymen and they deserve everything they get. I, personally, would like to see them "erased". The amount of "overseas" victims Alibaba & AliExpress are accumulating is shocking! Even on Amazon, it's mind-blowing, but AMZN is really kicking their asses to the curb, yet they remain the highest demographical sellers on AMZN. Read it here: How Chinese Sellers are Manipulating Amazon in 2024

The amount of bait-and-switch fraud being perpetrated by unscrupulous Chinese sellers on the aforementioned marketplaces will BLOW your mind away! Of course, if they dealt honestly, I would be out of a job/business "yesterday"!

Here is one of the many messages I receive WEEKLY from my myriad of wholesale buyers who ("try to") circumvent me to save on the additional 5%-10%:

With the exception of 4 buyers (out of +300), every one of my regular buyers has lost millions when one of their "WOKE MBA employees/consultants" decided they could save on that 5%-10% by buying from the "factory/supplier" themselves. Every one of them! The 4 have only been spared because they do NOT allow their employees/consultants to make ANY decisions on purchasing.

In defense of China and the rest of Asia, there are absolutely very honorable Chinese (and Asian) suppliers, but the risk of "trusting" a seller in a country where one can't do an RMA and ship the product back is akin to skydiving with only 1 parachute packed by the beneficiary of your life insurance!

It's GREAT news and I'm glad the Chinese prosecutors are taking these Chinese scammers (i.e. involuntary transactions) OUT of society!