China Business Journal Warns of Bitcoin-Extortion Scam Targeting Companies

Chinese state-affiliated newspaper China Business Journal has warned of an extortion scam targeting companies by impersonating its publication. The scammers used a Proton Mail address to contact businesses, claiming they had uncovered negative information through undercover investigations and threatening to publish unless paid in Bitcoin.

The newspaper stated that the emails were unauthorized and 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.