[2013-12-04] ECNS - China detains Bitcoin fraud suspects

[bryant.coleman]

Excellent news coming from China... the police has arrested three of the GBL owners, who fled with their clients' BTCs.

http://www.ecns.cn/business/2013/12-04/91184.shtml

A 29-year-old suspect surnamed Liu allegedly began operating GBL trading platform on May 27 of this year, according to police in Dongyang City in east China's Zhejiang Province.

[djalexr]

this is a good thing for bitcoin, demonstrating that bitcoin fraud is a serious offence that can be enforced under the law (just as fraud with any other currency would be). Gives more legitimacy to BTC when crooks can no longer thing "it's only magical internet money, the police won't be bothered about it!"

[laowai80]

I am sure they will find an efficient way to extract passwords to encrypted wallets out of those guys

[LiteCoinGuy]

I am sure they will find an efficient way to extract passwords to encrypted wallets out of those guys

probably