Chinese Police Arrest Hackers Behind $87 Million Cryptocurrency Theft

[SuperBazooka]

Chinese Police Arrest Hackers Behind $87 Million Cryptocurrency Theft

Chinese police have reportedly arrested three suspected hacked alleged to have stolen bitcoins and other cryptocurrencies worth $87 million.

According to a report in Xinhua, China’s state-owned press agency, police in the city of Xi’an in northern China first began investigating a complaint by a victim who alleged hackers had compromised his computer to steal 100 million yuan (approx. $15 million) in cryptocurrencies that included bitcoin, ethereum, and others.

A task force was set up and a preliminary investigation revealed that hackers had used remote hijacking techniques to gain access and control of cryptocurrency accounts belonging to the victim – only identified as Zhang – with nearly no footprints of the crime.

The investigation progressed and three months later, the task force was able to spot a suspect, named Zhou, with the help of ‘well-known’ internet companies in China. Authorities kept their distance and began tracking Zhou’s activities for a further two months. Before long, police identified two other accomplices by snooping in on Zhou’s communication. https://www.ccn.com/chinese-police-arrest-hackers-behind-87-million-cryptocurrency-theft/

[hugeblack]

It seems that this amount "87 Million" is not a result of hacking but the exploitation of computers in mining and other things.

Chinese police have arrested three “highly experienced” hackers suspected of stealing up to 600 million yuan (around $87.3 million) in crypto, local news outlet Xinhua reported August 18.

The hacking that occurred to the user was due to his negligence, as he reported that his computer had hacked.
I do not know how the police managed to hunt down & arrest them, but bitcoin has no connection to that operation "just like anything stolen."

[First77]

Bitcoin uses blockchain technology. How did the $87 million theft happen ??

[peter0425]

Bitcoin uses blockchain technology. How did the $87 million theft happen ??

It says in the article that the hackers has able to steal thru cyber-intrusion. So they gained un authorised access to the victims pc and perhaps got their private key and passwords.

A task force was set up and a preliminary investigation revealed that hackers had used remote hijacking techniques to gain access and control of cryptocurrency accounts belonging to the victim – only identified as Zhang – with nearly no footprints of the crime.

https://www.ccn.com/chinese-police-arrest-hackers-behind-87-million-cryptocurrency-theft/

At least the hackers have been caught and we all know how tough Chinese law is. This guy will be rotten in jail if found guilty.

[wizardcrypto]

The investigation for the suspected cryptocurrency exchange that was hacked is still going on.is high time more security measures is carried out for all cryptocurrency trading platform. This is the major reason why Bitcoin ETF have to be approve to make the cryptocurrency more user friendly.

[Fafabol]

due to advance technology,anything is possible like hacking.Local government may arrests these people which violate the law including online hacking.Thus,to make this possible citizens should be aware about what is happening around them.

[colvis]

Wow that is a good news and that is the type of thing we are suppose to be hearing.. If they can be catching and arresting hackers like this the rate at which wallets and exchange are hacked will reduce

[Ayston]

Bitcoin uses blockchain technology. How did the $87 million theft happen ??

It says in the article that the hackers has able to steal thru cyber-intrusion. So they gained un authorised access to the victims pc and perhaps got their private key and passwords.

A task force was set up and a preliminary investigation revealed that hackers had used remote hijacking techniques to gain access and control of cryptocurrency accounts belonging to the victim – only identified as Zhang – with nearly no footprints of the crime.

https://www.ccn.com/chinese-police-arrest-hackers-behind-87-million-cryptocurrency-theft/

At least the hackers have been caught and we all know how tough Chinese law is. This guy will be rotten in jail if found guilty.

Wew, so I think this is one reason for not entering an unfamiliar sites where in you need to create your account using your email, be careful also when your sending or creating profile in some KYC programs... Thinking about loosing this amount give me chill.