China digital currency: police make arrest over alleged US$47,000 e-yuan scam
- The suspect impersonated police to obtain the victim’s personal information including ID number, bank account details and a photo of her face
- Though still in trials, China’s digital yuan has been used by some 140 million individuals, as banks roll out rounds of promotions and discounts
The suspect called the victim earlier this month and impersonated police to obtain her personal information including ID number, bank account details and a photo of her face, Chinese media Thepaper.cn reported on Tuesday.
Is cryptocurrency too risky for China?
Central bank officials have vowed to strike a balance between protecting users’ privacy and cracking down on crimes. There are four types of e-wallets that can be opened with different levels of personal information, with the least privileged only requiring a phone number.
In a separate case, police in the central province of Henan arrested a group of 11 people on suspicion of using the digital yuan to launder money for scammers in Cambodia, according to a statement on November 5.
Several residents of Zhuhai city, in the southern province of Guangdong, have been scammed through digital yuan transactions this month, according to a statement by local police last week.