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Chinese newspaper warns of Bitcoin extortion scam using its name

The outlet said scammers contacted businesses via Proton Mail, falsely claiming undercover findings and demanding Bitcoin to prevent damaging reports.

Reported · Written up by our desk · Regulation

Cointelegraph reports that China Business Journal warned about fraudsters impersonating the publication to extort companies by demanding Bitcoin.

According to the newspaper, scammers used a Proton Mail address to contact businesses, claiming they had uncovered negative information through undercover investigations and threatening to publish the material unless it was paid in Bitcoin.

The statement said the emails were unauthorized and that the scheme appeared to constitute fraud, with the newspaper saying it is collecting evidence.

China Business Journal said it reserved the right to pursue civil and criminal action against those responsible.

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