Chinese Police Captures Suspects after $120m Digital Currency Theft

Chinese HackerChinese police have captured three suspects claimed to have stolen resources worth 600 million yuan (S$120 million) through hacking as digital culprits target holders of bitcoin and alternative cryptocurrencies, announced the state media.

Police in the northern city of Xi’an started researching in March when a man named Zhang lodged a complaint that programmers had taken control of his PC to take 100 million yuan worth of cryptographic money. The 100 million yuan haul was comprised of the mainstream bitcoin and ether monetary standards, state news office Xinhua announced.

The exchange of the units gave police a virtual trail, driving them to a suspect named Zhou in the focal region of Hunan.

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Zhou’s correspondences prompted two more claimed assistants. The three suspects are thought to have stolen 600 million yuan by hacking the PCs of people and organizations. The police examination is still under way with officers in three regions cooperating a week ago to arrest the suspects.

In February an official Chinese distribution reported plans to stamp out all residual digital currency exchanging in the nation by blocking access to overseas based sites and expelling related applications from application stores.

The moves were sketched out in a report by Financial News, a distributor under the People’s Bank of China, which said the point was to snuff out the diminishing soot of digital currency exchanging and initial coin offerings which are rising again.

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Police investigated 30,000 snippets of data and approached the assistance of residential web organizations before recognizing the main suspect, a man named Zhou from Hunan territory. It took police an additional two months previously before they found the two different suspects: Cui in Beijing and Zhang in Jilin region.

Police watched them day and night before keeping every one of the three in composed strikes on Wednesday. The case is still under scrutiny.

Get the latest in Asian Bitcoin news here at Coin News Asia.

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