On July 29, China Business Journal revealed scammers are impersonating its reporters to blackmail companies for Bitcoin payments. The state-affiliated publication, with over 40 years of history, said fraudsters send emails from Proton Mail addresses, claiming undercover investigations have uncovered damaging information. Recipients face a threat: pay a Bitcoin ransom or face negative press exposure.
The scam exploits the authority the newspaper holds as part of the Chinese Academy of Social Sciences, making the threat particularly alarming in a country with strict media control. The China Business Journal clarified it never contacts anyone through unofficial channels and never demands cryptocurrency.
While no specific victims or payment sums have been confirmed, the public warning highlights the scheme has gained enough traction to prompt official action. The newspaper is gathering evidence and may pursue legal steps. Companies targeted are urged to keep all evidence and report incidents to authorities.
This material is for informational purposes only and does not constitute financial advice.
