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A Group of Criminals Have Stolen $ 87 M Worth of Bitcoin and Altcoins

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Chinese authorities arrested a group of cybercriminals who stole Bitcoin and altcoins worth $ 87 million.

Chinese news portal Xinhua reported on Saturday that three individuals were found guilty of stealing an enormous amount of money valued in cryptocurrencies. After about a full month of investigations, the three guilty people were arrested on 15 August in Hunan, Changchun province, and Beijing capital.

The information on the operations carried out by the criminals was offered by a victim identified as Zhang. He was the first person to submit a complaint at the Xi’an police headquarters in March. According to his statements, hackers have managed to steal nearly $ 14.5 million worth of cryptocurrencies after hacking the victim’s computer.

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,” reported Xinhua.

Police identified three suspects

Following the investigation conducted in collaboration with anonymous websites, police identified a suspect named Zhou, who allegedly hacked the victim’s computer to move the funds to his address. Subsequently, the police succeeded in finding two other accomplices, known in criminal records 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 individuals were then accused of involvement in illegal operations on both organizations and personal networks to extract cryptocurrencies estimated at 600 million yuan, or about $ 87 million.

The investigation is still ongoing. This is not the first case of its kind held in China, but certainly one of the most significant by the amount of stolen cryptos.

Prior to this incident, police in Dalian city reported about the arrest of 20 culprits found guilty of infecting with crypto mining malware of more than one million computers, managing to gain earnings worth $2 million.

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