Chinese Police Arrest Hackers For $87 Million In Crypto Theft

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Chinese Police Arrest Hackers For $87 Million In Crypto Theft

By Ryan Warner
August 19th, 2018

Three individuals allegedly having stolen $87 Million in Bitcoin and other cryptocurrencies have been arrested according to Chinese news agency Xinhua.

According to Xinhua the three suspects were arrested on August 15 in the provinces of Hunan, Changchun and the capital city Beijing after an invstigation spanning several months.

The report states that a victim, identified as Zhang, filed a complaint to police in the city of Xi'an in March alleging that $14.5 million in crypto assets had been stolen.

The police, with assistance from unnamed internet providers, located a suspect identified as Zhou, who allegedly conducted a remote attack to transfer the funds from Zhang's computer.

As the investigation progressed the police netted two other experienced hackers in the crime.

The three are accused of other cyber intrusions into personal and corporate networks to obtain cryptocurrencies.