China Business Journal, a state-affiliated newspaper, has warned that fraudsters have been impersonating the publication to extort companies by demanding Bitcoin in exchange for suppressing damaging reports.<\/p>\n
In a statement<\/a> issued Thursday, the newspaper said scammers used a Proton Mail address to contact businesses, falsely claiming they had uncovered negative information through undercover investigations and threatening to publish the material unless paid in Bitcoin. <\/p>\n The publication said the emails were unauthorized and that the scheme appeared to constitute fraud.<\/p>\n It also said it was collecting evidence and reserved the right to pursue civil and criminal action against those responsible.<\/p>\n Founded in 1985, China Business Journal is published by the Institute of Industrial Economics of the Chinese Academy of Social Sciences, a government-run academic institution. While market-oriented in its coverage, it operates under state supervision and is regarded as a state-affiliated business newspaper.<\/p>\n Related: <\/strong><\/em>South Korea report proposes stablecoin rules before crypto law<\/strong><\/em><\/a><\/p>\n