Feng Dian, former head of e-commerce at Kuaishou, was convicted of embezzling 140 million yuan through Bitcoin money laundering and was ordered to hand over over 90 BTC.

According to Caijing Story Collection, Feng Dian, the former general manager of Kuaishou's e-commerce service provider operations center, exploited his position to collude with suppliers to embezzle company subsidies totaling 140 million yuan, setting a new record for corruption at a major company. Feng Dian's group obtained subsidies through fraudulent applications and then laundered the funds using offshore virtual currency trading platforms before transferring them back to RMB. Ultimately, Feng Dian and seven others were sentenced for embezzlement and ordered to surrender over 90 bitcoins.