China Scammers Impersonate State-Affiliated Publication to Extort Bitcoin

The China Business Journal, a publication with a history dating back to 1985, has issued a public warning about scammers impersonating its reporters. The scammers are demanding Bitcoin payments from companies, claiming they have uncovered damaging information about their business.

The scheme works by sending emails from Proton Mail accounts, often claiming the newspaper has conducted undercover investigations. If the company doesn't pay up in Bitcoin, the negative reports will go public, according to the emails.

The China Business Journal emphasized that it does not operate through unofficial channels and all its reporting adheres to official regulations and Chinese law. The publication is currently collecting evidence related to the scheme and has reserved its right to pursue legal action against the perpetrators.