China Business Journal said on Thursday that scammers have been impersonating the newspaper in emails sent through Proton Mail, telling companies they allegedly hold damaging investigative material and threatening to publish it unless they are paid in Bitcoin. The outlet said the messages were unauthorized and suspected to be fraudulent, adding that it is gathering evidence and reserves the right to pursue legal action.
According to the report cited by Cointelegraph, China Business Journal was founded in 1985 by the Institute of Industrial Economics under the Chinese Academy of Social Sciences. While it operates as a market-oriented business media outlet, it remains subject to state oversight. The statement points to a fraud pattern that combines the credibility of a traditional media brand with the anonymity associated with cryptocurrency payments. Businesses were urged to stay alert to such schemes.
China Business Journal said on Thursday that scammers have been posing as the newspaper and contacting companies through Proton Mail, claiming they possess negative investigative information and threatening to publish it unless they receive payment in Bitcoin.
The newspaper said the emails were unauthorized and suspected to be fraudulent. It added that it is collecting evidence and reserves the right to pursue legal action.
According to Cointelegraph, China Business Journal was founded in 1985 by the Institute of Industrial Economics of the Chinese Academy of Social Sciences. The report said that although the outlet operates as a market-oriented business publication, it is under state supervision.
The statement indicates that scammers are using the credibility of a traditional media brand together with the anonymity of cryptocurrency to carry out extortion. Companies were warned to stay alert to this type of scam.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
