A Chinese Criminals Arrested After Stealing $ 87 M Worth of Bitcoin and Altcoins

Chinese local news outlet Xinhua reported on August 18, 2018 that three suspects were found guilty of heist that saw an tremendous sum of money valued in cryptocurrencies stolen . The three guilty people were arrested on 15 August in Hunan after intensive investigation, in Changchun province, and the capita, Beijing.

The digital theft carried out by the cybercrooks was brought to light by a victim identified as Zhang. The victim the first submitted a complaint to the Xi’an police back in March. According to Zhang’s statements, the perpetrators successfully stolen almost $ 14.5 million worth of digital assets by hacking into the victim’s computer.

News outlet Xinhua reported:

“On March 30, 2018, the Xi’an Public Security Bureau received an alarm from the victim Zhang, saying that his personal computer was suspected of being illegally invaded. A large number of virtual currencies such as Bitcoin and Ethereum were looted and the market value reached 100 million yuan. The Municipal Public Security Bureau quickly set up a task force to carry out the investigation.”

The police investigation was helped with collaboration of anonymous websites, leading police to identify a suspect named Zhou, who allegedly broke into the victim’s computer to transfer the cryptocurrency to his address. Soon after, the police were successful in locating two other accomplices, known as expert hackers.

“After preliminary investigation, the suspects used remote hacking techniques to remotely control theft of highly secure virtual currency accounts without any operation of the victim, and almost no trace of committing crimes. Rare case.”

The three suspects were accused of their involvement in illegal operations to steal an amount of cryptocurrencies estimated at 600 million yuan, or around $ 87 million. Currently the investigation is still ongoing. While the crime is not unique in China, it is notable by the amount of stolen cryptocurrency.