PANews reported on August 17th that, according to China News Service, after China strictly banned virtual currency transactions in 2021, the preservation and disposal of virtual currencies involved in criminalPANews reported on August 17th that, according to China News Service, after China strictly banned virtual currency transactions in 2021, the preservation and disposal of virtual currencies involved in criminal

Guizhou Duyun Public Security Bureau practices virtual currency storage involved in the case: frozen and then seized in cold wallets for physical isolation

2025/08/17 20:09

PANews reported on August 17th that, according to China News Service, after China strictly banned virtual currency transactions in 2021, the preservation and disposal of virtual currencies involved in criminal cases has become a thorny issue for local police. Recently, reporters accompanied the Ministry of Public Security's "Guardians Under the Sun" law-based public security publicity campaign on a visit to the Duyun City Property Management Center in Qiannan Buyi and Miao Autonomous Prefecture, Guizhou Province, to learn about local police practices in preserving virtual currencies involved in criminal cases. During the investigation, police discovered that suspects had converted illegally obtained funds into virtual currency. During the seizure process, Duyun police froze the virtual currencies involved and seized them in cold wallets established by the police for physical isolation. The funds are then stored at the Duyun City Property Management Center, awaiting a court ruling. The Duyun City Police Department's exploration of this approach has provided a solution to the problem of preserving virtual currencies involved in criminal cases, and local authorities are still searching for better solutions. Duyun Police are reportedly focusing on the difficulties in preserving, transferring, and disposing of criminal property, actively exploring reforms in property management, and promoting the establishment of a cross-departmental property management center. Since the center was completed and put into use in November 2022, it has received 24,753 items involved in the case, more than 20.4955 million yuan in funds involved in the case, and centralized the storage of more than 7,000 files of various cases.

Market Opportunity
PUBLIC Logo
PUBLIC Price(PUBLIC)
$0.02788
$0.02788$0.02788
+0.94%
USD
PUBLIC (PUBLIC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

The Channel Factories We’ve Been Waiting For

The Channel Factories We’ve Been Waiting For

The post The Channel Factories We’ve Been Waiting For appeared on BitcoinEthereumNews.com. Visions of future technology are often prescient about the broad strokes while flubbing the details. The tablets in “2001: A Space Odyssey” do indeed look like iPads, but you never see the astronauts paying for subscriptions or wasting hours on Candy Crush.  Channel factories are one vision that arose early in the history of the Lightning Network to address some challenges that Lightning has faced from the beginning. Despite having grown to become Bitcoin’s most successful layer-2 scaling solution, with instant and low-fee payments, Lightning’s scale is limited by its reliance on payment channels. Although Lightning shifts most transactions off-chain, each payment channel still requires an on-chain transaction to open and (usually) another to close. As adoption grows, pressure on the blockchain grows with it. The need for a more scalable approach to managing channels is clear. Channel factories were supposed to meet this need, but where are they? In 2025, subnetworks are emerging that revive the impetus of channel factories with some new details that vastly increase their potential. They are natively interoperable with Lightning and achieve greater scale by allowing a group of participants to open a shared multisig UTXO and create multiple bilateral channels, which reduces the number of on-chain transactions and improves capital efficiency. Achieving greater scale by reducing complexity, Ark and Spark perform the same function as traditional channel factories with new designs and additional capabilities based on shared UTXOs.  Channel Factories 101 Channel factories have been around since the inception of Lightning. A factory is a multiparty contract where multiple users (not just two, as in a Dryja-Poon channel) cooperatively lock funds in a single multisig UTXO. They can open, close and update channels off-chain without updating the blockchain for each operation. Only when participants leave or the factory dissolves is an on-chain transaction…
Share
BitcoinEthereumNews2025/09/18 00:09
PA Daily | Moonshot launches New XAI gork ($gork); analysis shows that Trump’s crypto assets account for about 40% of his total assets

PA Daily | Moonshot launches New XAI gork ($gork); analysis shows that Trump’s crypto assets account for about 40% of his total assets

CryptoQuant predicts three future trend scenarios for Bitcoin: in an optimistic scenario, it will rise to $150,000 to $175,000; Binance Alpha will launch Anon, BEETS and SHADOW; Moonshot announced the launch of New XAI gork ($gork).
Share
PANews2025/05/01 17:30
XRP ETF’s bereiken belangrijke mijlpaal: $1 miljard aan netto instroom

XRP ETF’s bereiken belangrijke mijlpaal: $1 miljard aan netto instroom

De markt voor crypto-exchange-traded funds (ETF’s) heeft opnieuw een belangrijke mijlpaal bereikt. XRP ETF’s hebben gezamenlijk meer dan 1 miljard dollar aan netto
Share
Coinstats2025/12/16 21:01