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PANews
PANews|Sep 10, 2025 08:55
[Bao Erye Shares Photo Showing RenrenBit Founder Zhao Dong Released from Prison] Guo Hongcai (known as Bao Erye) posted a photo on social media, showing RenrenBit founder Zhao Dong appearing in the United States and having been released from prison. Previously, Zhao Dong was arrested in June 2020 on charges of aiding and abetting crimes and illegal business operations. According to court records, Zhao Dong's team had provided virtual currency over-the-counter exchange services for the 'Tiantian Xiangshang' platform, with the case involving a total amount of 3.1 billion yuan. After pleading guilty and accepting punishment, Zhao Dong was sentenced to two years in prison and fined, with probation applied. The case involved illegal settlements and facilitating fund transfers for gambling-related black and gray industries. Zhao Dong's recent appearance may signify the end of his sentence.
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