2026-01-09 07:52:45

A recent case of information resale has raised some concerns. Several individuals illegally queried and resold mobile base station location data, settling the entire transaction with virtual currency, involving over 1,000 pieces of information. The main suspect profited more than 1.14 million yuan through this gray industry chain. Ultimately, they were convicted of infringing on citizens' personal information.

This case reflects many underlying issues. On one hand, the anonymity and cross-border nature of virtual currencies indeed provide opportunities for criminals—bypassing traditional financial monitoring and making it difficult to trace fund flows. On the other hand, it also serves as a reminder to the entire Web3 ecosystem: we cannot ignore such gray-area applications; instead, we should place greater emphasis on compliance.

For exchanges, wallet service providers, and on-chain applications, risk control and KYC (Know Your Customer) processes are not just formalities but a matter of life and death. Virtual currency technology itself is neutral, but the choice of use cases determines its positioning in law and public opinion. This case essentially says: the better the compliance, the healthier the ecosystem; conversely, it will face increasing regulatory pressure.

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AllInDaddy

· 01-11 18:07

1.14 million just gone... What does that say? Not managing risk properly is really like committing suicide.

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FarmToRiches

· 01-11 06:21

Here we go again, virtual currencies are being brought up again... We need to understand KYC and risk control ourselves.

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GamefiEscapeArtist

· 01-09 15:23

That's why I kept saying that if you don't complete KYC, you'll eventually get caught out someday.

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ColdWalletGuardian

· 01-09 08:22

1.14 million... Now I realize that the anonymity in the crypto world is indeed a double-edged sword; it needs to be taken seriously. Really, KYC can't be taken lightly anymore, or the entire ecosystem will be at risk. With such rampant gray industry chains, exchanges and wallets must take responsibility. This case actually highlights one thing: if you're not disciplined, you'll be regulated to death. Compliance is the long-term solution; otherwise, you'll eventually fall.

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AlphaBrain

· 01-09 08:22

Using coins for money laundering again? Really, this should have been prevented long ago. --- 1,140,000... That's why the KYC requirements on exchanges are so strict. --- Virtual currencies themselves are not the problem; it's the people using them. --- In plain terms, compliance is the way out; non-compliance just invites investigation. --- Selling base station data... this method is indeed ruthless, no wonder they settle with coins. --- A healthy ecosystem depends on self-discipline; otherwise, everyone is just tied together. --- Speaking of which, these cases will only increase, right? --- KYC processes are not just formalities; they are the lifeline.

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AirdropBuffet

· 01-09 08:18

Another one using coins to launder money? 1,140,000 just disappeared like that, truly unbelievable.

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YieldWhisperer

· 01-09 07:59

Here we go again, virtual currencies once involved in gray-area businesses always get blamed. Actually, at the root, it's still a lack of risk control. --- 114 million, how many small crypto investors' annual income is that... Compliance really can't be delayed any longer. --- That's right, hearing the talk about technological neutrality gets old. The key is how to use it. Without proper KYC, you'll eventually fail. --- Cases like this are increasing, we need to be more cautious. If exchanges still turn a blind eye, they're just asking for trouble. --- Anonymity is a double-edged sword; it facilitates normal users but also enables black market activities. There's no way around it. --- A healthy compliant ecosystem is correct, but who is really taking it seriously and implementing it... --- Just over 1,000 pieces of information can uncover 114 million; this gray industry chain is much larger than we imagined.

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NightAirdropper

· 01-09 07:53

When it comes to compliance, it's already too late to sugarcoat it; we should have acted sooner.

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