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Bitcoin Scams

Chinese Police Arrests Hackers Who Stole $87 Million In A Crypto Theft

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The police in China recently arrested three suspected hackers who have apparently stolen Bitcoin as well as other cryptocurrencies in a combined worth of $87 million.

As the report in a state-owned press agency Xinhua says, the Chinese police initially began investigating this case after a victim alleged hackers who stole 100 million yuan ($15 million) from his crypto account which included Bitcoin, Ethereum, and other altcoins.

The Chinese police had set up a task force which later revealed that hackers used many hijacking techniques to gain access and control of cryptocurrency accounts which belonged to the victim, identified as Zhang.

Even though there were nearly no footprints of the crime, the police managed to track the hacker (named Zhou) and his activities for two months before identifying two other accomplices by snooping in Zhou’s communication.

Zhou, along with his accomplices, managed to steal more than 600 million yuan (approximately $87 million) by simply targeting corporate and personal network systems through a number of illegal means such as cyber intrusion and hacking. Currently, Zhou and his alleged accomplices are in custody. The investigation, however, is still ongoing as police are trying to track the path of the (stolen) money.

During the past few months, the number of cyber crimes in China has multiplied. Still, the police are working hard to investigate every case and put every hacker behind the bars.

 

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