Feng Dian, former head of e-commerce at Kuaishou, was convicted of embezzling 140 million yuan through Bitcoin money laundering and was ordered to hand over over 90 BTC

Feng Dian, former head of Kuaishou’s e-commerce sector, was found guilty of embezzling 140 million yuan by colluding with suppliers, marking a significant corporate corruption case.

The fraud included false subsidy applications and the laundering of embezzled funds through Bitcoin, leading to the forfeiture of over 90 BTC as part of the legal proceedings.