Article
【Ministry of State Security: The So-Called “Anonymous Attribute” of Virtual Currencies Is a False Proposition】
The Ministry of State Security published an article on its WeChat public account titled “Virtual Currency Crimes Cannot Be Traced? Think Again!”, stating that virtual currencies have become important tools used by criminals to engage in illegal activities. Related risks include a “hotbed” for money-laundering crimes, a “cover” for cyberattacks, and an “accomplice” in espionage and theft of secrets. The article argues that the so-called “anonymous attribute” of virtual currencies is fundamentally a false proposition. It states that blockchain is open and transparent, on-chain data cannot be tampered with, and transaction records are fully retained, providing a basis for tracing the entire chain. Address anonymity is merely a temporary separation between a wallet address and a real identity; exchanging fiat currency leaves device identifiers and network IP and other traces. The article summarizes this as examining the ledger, tracing the chain, and discussing private keys: the entire transaction process leaves traces, making it difficult to conceal one's real identity; if private keys are held personally, there is no loss-reporting or recovery mechanism, while entrusting them to a platform creates risks of platform failure or loss of contact. The article also states that, 2026 year February the People's Bank of China and multiple other departments reiterated in a notice that Bitcoin, Ether, Tether, and other assets should not and cannot circulate as currency, and that related business constitutes illegal financial activity and is strictly prohibited. The article warns against high-paying part-time jobs settled in virtual currency and states that reports can be submitted through 12339, www.12339.gov.cn, the Ministry of State Security WeChat public account, or the local state security authority.
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