Fortunately, whether in traditional finance or the crypto world, the efforts against corruption and chaos are becoming increasingly strong! Even with significant contributions, Bai Tianhui could not evade the death penalty, which shows the country's zero tolerance for corruption; Binance has also started publicly addressing insider trading employees, rewarding whistleblowers, and multiple exchanges are following suit to 'eradicate corruption', aiming to clean up the industry's tumors.
A major news story has exploded outside the crypto world today—Bai Tianhui, the former general manager of Huarong International, who was bribed over 1.1 billion, was executed lawfully this morning! This corrupt figure, who amassed 1.108 billion in four years and made an average of 750,000 daily, ultimately did not escape the punishment of the law, and the outcome is heartening! ✅
Justice may be delayed, but it will never be absent! Bai Tianhui facing the law serves as a warning and a signal—no matter the industry, those who rely on power and insider information to amass wealth will ultimately be nailed to the pillar of shame! For the crypto world to develop healthily, it must completely expel these 'power scythes' and 'insider rats', allowing ordinary people's investments to be more secure!
Some may ask, what does the corruption case in the financial circle have to do with the crypto world? Don’t worry, the intricacies are closely related to the wallets of crypto friends!
Consider those employees engaged in insider trading in the crypto world and the project parties with opaque operations: exchange employees receive coin listing news in advance, secretly buy low and sell high to exploit investors; project parties collude with capital, deliberately releasing false good news to pump prices, running away with the money; some platforms take advantage of information asymmetry, packaging high-risk projects as 'guaranteed profits' traps, harming ordinary investors. These operations are fundamentally no different from Bai Tianhui's corruption—they all exploit information advantages and power conveniences to stuff others' hard-earned money into their own pockets!
What’s more heartbreaking is that Bai Tianhui's 1.1 billion in ill-gotten gains, when converted to hundred yuan bills, weighs over 12 tons, enough to crush a large truck. His daily income exceeds several years' worth of ordinary people's salaries. In the crypto world, some employees engaged in insider trading can earn hundreds of thousands of dollars in a single operation, while project teams can easily siphon off hundreds of millions. In the end, it’s the innocent retail investors who suffer: losing all their principal, having no recourse for rights protection, and helplessly watching scammers roam free.
Bai Tianhui is no small character; as the second in command at Huarong, he engaged in illegal activities alongside 'the first financial corrupt' Lai Xiaomin. To please his leaders with short-term performance, he disregarded project risks, aggressively pushed high-risk investments, and even intentionally beautified and ignored project loopholes, treating state assets as tools for his personal gain. Does this 'power monetization + risk ignorance' operation remind you of certain chaotic phenomena in the crypto world?
A reminder for crypto friends: Never be greedy for the 'pie falling from the sky' in investments; anything claiming 'guaranteed profits' or 'insider information' is likely a trap. If you encounter platforms with opaque operations or projects that exploit investors, be sure to keep evidence and report them promptly; don’t give scammers any chance!
