Chinese Police Crack USD87 Million Crypto Heist
Chen Juan
DATE:  Aug 20 2018
/ SOURCE:  Yicai
Chinese Police Crack USD87 Million Crypto Heist Chinese Police Crack USD87 Million Crypto Heist

(Yicai Global) Aug.20 -- Chinese police havedetainedthreehackerssuspectedin a case involving theserialtheft of virtual currencies worth up to CNY600 million(USD87 million), authorities have announced.

PoliceinXi'an in China'snorthwestern Shaanxi provincereceived atip from a victim who reported illegal hacking of apersonal computerand theft ofcryptocurrenciesit stored --including Bitcoin and Ethereum--worth as much as CNY100 million(USD14.6 million), state Xinhua News Agencyreported.

The suspectstookcontroloverandpillaged the highly secure virtual currency account remotely whenthevictimwas not actively using it. The attackers scarcely left any clues.Assisted by severalleadinginternet companies, the police finallytracked three suspectsdownin threedifferent locations andtook them into custody, per the report.

All three suspects areveteranhackers, whohaverealizedmassive illegal incomes by repeatedlybreakingintobusiness and personal network systemsto steal virtual currencies,the preliminary investigationshows.

Thecase is underfurtherinvestigation.

Editor: Ben Armour

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Keywords:   Mahathir Bin Mohamad,Alibaba