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 have detained three hackers suspected in a case involving the serial theft of virtual currencies worth up to CNY600 million (USD87 million), authorities have announced.

Police in Xi'an in China's northwestern Shaanxi province received a tip from a victim who reported illegal hacking of a personal computer and theft of cryptocurrencies it stored -- including Bitcoin and Ethereum -- worth as much as CNY100 million (USD14.6 million), state Xinhua News Agency reported.

The suspects took control over and pillaged the highly secure virtual currency account remotely when the victim was not actively using it. The attackers scarcely left any clues. Assisted by several leading internet companies, the police finally tracked three suspects down in three different locations and took them into custody, per the report.

All three suspects are veteran hackers, who have realized massive illegal incomes by repeatedly breaking into business and personal network systems to steal virtual currencies, the preliminary investigation shows. 

The case is under further investigation.

Editor: Ben Armour

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Keywords:   Mahathir Bin Mohamad,Alibaba