Hacker claims to have stolen 1 B records of Chinese citizens, demands 10 BTC

[0verseer]

From my viewpoint, it smells fishy that with such an enormous amount of personal data for 1bil Chinese citizens, he only asks for 10 BTC.
Even giving out 750k data for verifying its legitimacy, I doubt anyone can make a cross-reference and verifying it except China govt. So again, 10 BTC for 1bil Chinese citizens data? If it was real then the 10 BTC price tag is just for show.

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[CryptSafe]

This is quite worrisome that data was hacked from the security data base. It isn't alright that the security that ought to protect such information with utmost care could encounter such incidence. It's unfortunate this happened but paying such ransome wouldn't help in any way because the hacker(s) are already in possession of the data and the would still trade it as long as they have it still with them.
Come to talk of it, after thrse series of data hack and data leaks can these kyc firms be trusted anymore to properly secure the information of their clients. This goes to show that personal information supplied during kyc verifications are no more safe.

[FatFork]

From my viewpoint, it smells fishy that with such an enormous amount of personal data for 1bil Chinese citizens, he only asks for 10 BTC.
Even giving out 750k data for verifying its legitimacy, I doubt anyone can make a cross-reference and verifying it except China govt. So again, 10 BTC for 1bil Chinese citizens data? If it was real then the 10 BTC price tag is just for show.

I think you forgot that he can resell the same data countless times. It is not blackmail, but a simple sale of illegally collected information on the black market. If he only has ten customers, that's already 100 Bitcoin!

[buwaytress]

I think you forgot that he can resell the same data countless times. It is not blackmail, but a simple sale of illegally collected information on the black market. If he only has ten customers, that's already 100 Bitcoin!

Indeed. It's a bigger prize than it appears, and probably could even sell in in chunks of data, be surprised how many buyers they can be, even put up a shop for individuals. Was big in the 90s, bigger in the 00s, and this is Chinese data now.

What's interesting later for me is who'll be the dogs set on the buyers later on. Bitcoin does leave the hacker(s) vulnerable to forensics. We'll never know, of course.

[South Park]

The government is not responding to this claim. Do you think they will do something about this?

It's the Chinese government, authoritarian, so they might be doing something in 'secretive'.

And probably it's a race against time, as others have speculated that other entities could be interested on the huge data. So we don't know, maybe someone have bought it already from the hackers, or the Chinese has arrested the hackers. And I guess we will not know the truth after this report surfaces.

I would not be surprised if the Chinese government could buy the information to see how much out of it actually is up to date and also as a way to try to track those coins and get the hacker, also I think the hacker is being very smart by giving it such a low price as he can resell that information over and over again not only to private business but even to foreign governments that are against China, after all if you were one of the top agents on a secret agency would you not be interested in obtaining all of that information?

[RealMalatesta]

From my viewpoint, it smells fishy that with such an enormous amount of personal data for 1bil Chinese citizens, he only asks for 10 BTC.
Even giving out 750k data for verifying its legitimacy, I doubt anyone can make a cross-reference and verifying it except China govt. So again, 10 BTC for 1bil Chinese citizens data? If it was real then the 10 BTC price tag is just for show.

I think you forgot that he can resell the same data countless times. It is not blackmail, but a simple sale of illegally collected information on the black market. If he only has ten customers, that's already 100 Bitcoin!

I agree with this, I mean if we are selling 1 billion Chinese data for the very first time, you could even contact FBI or CIA or something and ask for a lot more, you could get rich. But if you already sold it like 100 times, then you could not ask that much, you just gotta drop the price a ton.

It is still 1 billion Chinese, so it is not going to be free or 100 bucks, but believe me as long as this exists eventually it will become free as well, you will see it shared everywhere eventually. My nation had a similar situation and now you can get it for free after 5 years. If this is real, the first one was probably expensive, now 10 btc, later it will be 1, and eventually free.