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Hackers Arrested in China For Stealing $87 Million in Cryptocurrency

Jake Hill
Jake Hill

In China, Police has arrested 3 suspects who had stolen cryptocurrency worth 600 million yuan ($87 million USD). These suspects robbed by hacking into cryptocurrency holders computers to steal bitcoins and other cryptocurrencies.

According to Local Media, the police started to investigate this case since March this year. This was due to a victim named Zhang reported to the police that the hackers have attacked his computer to steal 100 million yuan ($15 million USD) cryptocurrencies.

This gave the police a chance to catch the hackers by tracking them through the address where the cryptocurrency was transferred and this trail lead them to one of the suspects named Zhou, he was located in Hunan town.

After catching Zhou, the police then checked the communication of Zhou and it leads them to two other suspects who had been worked with Zhou. And the police found out that these suspects have stolen 600 million yuan cryptocurrency by hacking into individual and other organizational systems.

Also, China has been working for months to stop the illegal Bitcoin mining operations. Where the authorities have said that by end of August the illegal bitcoin mining operations will be stopped.

As per this $600 million USD hack which took place the authorities have not yet given any official statement. But only we know that the suspects have been arrested and the police are still investigating on the case.

chinacybersecuritynews

Jake Hill

Coming from a University Education in Computer Science, I am interested in blockchains and Bitcoin since 2014 and even mined at the time. The rumors of Bitcoin bubble made me run away, but I have com