According to China News on June 21, chinese officials and tech giant – Tencent is cooperating to established China Blockchain Security Alliance to handle blockchain security issues.  At China Blockchain Security Forum in Beijing, Mr Bin Ma – Vice President of Tencent announced the establishment of this alliance on the same day.

The forum is organized by he government-backed China Technology Market Association (CTMA), which focus to gather organizations to create a healthy development of blockchain industry.

China News also revealed that this Blockchain Security Alliance will be a group of Tencent Security, the China Blockchain Application Research Center, CTMA and around 20 public and private organizations.

The conference was held to attract the attention of blockchain key players since there is a rising number of crypto and blockchain-related crimes in China recently.

Earlier this April, China media outlet – Xinhua shared that Xi’an police has successfully come up with a pyramid scheme associated with the blockchain concept

This online marketing project attracted more than 13000 members who invested around RMB86 million (about to $13 million) within 17 days after launching.