Chinese newspaper warns of Bitcoin extortion scam using its name

cointelegraphPubblicato 2026-07-30Pubblicato ultima volta 2026-07-30

Introduzione

Chinese newspaper China Business Journal has issued a warning about a Bitcoin extortion scam. Fraudsters are impersonating the publication, using a Proton Mail address to contact companies. They falsely claim to have uncovered damaging information through investigations and threaten to publish it unless paid in Bitcoin. The newspaper stated these emails are unauthorized and the scheme appears fraudulent. It is collecting evidence and reserves the right to pursue legal action against those responsible. China Business Journal is a state-affiliated publication under the Chinese Academy of Social Sciences.

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.

In a statement 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.

The publication said the emails were unauthorized and that the scheme appeared to constitute fraud.

It also said it was collecting evidence and reserved the right to pursue civil and criminal action against those responsible.

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.

Related: South Korea report proposes stablecoin rules before crypto law

Domande pertinenti

QWhat is the main warning issued by the China Business Journal in the article?

AThe China Business Journal warned about a Bitcoin extortion scam where fraudsters are impersonating the publication to extort companies, demanding Bitcoin in exchange for suppressing fabricated damaging reports.

QHow are the scammers contacting their targets according to the statement?

AThe scammers are contacting their targets using a Proton Mail email address, falsely claiming to have uncovered negative information through undercover investigations.

QWhat did the China Business Journal state about the emails and the scheme?

AThe China Business Journal stated that the emails were unauthorized and that the scheme appeared to constitute fraud.

QWhat actions did the publication say it was taking in response to the scam?

AThe publication said it was collecting evidence and reserved the right to pursue civil and criminal action against those responsible for the scam.

QWhat is the institutional background of the China Business Journal as described in the article?

AThe China Business Journal is published by the Institute of Industrial Economics of the Chinese Academy of Social Sciences, a government-run academic institution. It operates under state supervision and is regarded as a state-affiliated business newspaper.

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