Chinese Firms Targeted by Bitcoin Extortion Scam

The China Business Journal has issued a public warning regarding a growing extortion scheme. Impostors are using the name of the publication to send threatening emails to various companies. These messages claim that the newspaper is preparing damaging coverage unless the targets pay a ransom in Bitcoin.

These criminals typically reach out using Proton Mail accounts to maintain anonymity while pressuring business owners. The scheme relies on fear, hoping that companies will pay the digital currency demand quickly to avoid negative publicity. The newspaper confirmed it has no involvement in these emails and does not request payments for coverage.

This incident serves as a reminder to stay vigilant against phishing and digital threats. Companies should always verify the source of any legal or media threat through official communication channels before responding. Experts suggest that businesses should report these extortion attempts to local authorities immediately rather than engaging with the senders.