$87 million cryptocurrency theft in China: Highly-skilled hacker trio arrested 21197
Vidwan Reddy
Aug 20, 2018 at 1:20 PM

Chinese police have arrested three persons for allegedly stealing bitcoins and other cryptocurrencies worth $87 million, Chinese news agency Xinhua reported on Saturday.

The three individuals are caught on August 15 in Hunan, Changchun provinces, and Beijing respectively, after a months-long probe.

See also: Monero [XMR] experiences steep decline in hashrate; community delighted

The report says a victim, who goes by the name Zhang, approached police in the northwestern city Xi'an after he allegedly lost crypto assets worth $14.5 million. He gave a complaint in March.

The police investigated the matter with the help of many internet firms. They learned that a person Zhou (surname) hacked Zhang's personal computer and stole his crypto assets. The investigating officers later identified Zhou's partners, apparently highly-skilled hackers, the report stated.

The trio had been accused of breaking into the networks of corporations and individuals and getting away with 600 million yuan ($87 million) as per estimates.

Earlier, 20 persons were arrested in Dalian city of China for allegedly using crypto mining malware to infect over a million computers. They reportedly earned over $2 million in a span of two years.

$300 mn Bitcoin scam: Indian cops nab two more in ponzi scheme case

The crime branch police have arrested two more involved in the ponzi Bitcoin scheme that duped thousands of cryptocurrency investors. The duo is said to be close aides of Amit Bhardwaj, the kingpin of the multi-million Bitcoin [BTC] scam. They are accused of marketing the schemes to lure gullible consumers.

Pune police arrested Amit Bhardwaj on April 5 from the Delhi airport. He is believed to be the mastermind behind scamming thousands of Indians. He allegedly made a fortune of $300 million (approximately 2,000 crore INR).

“The duo were involved in marketing the scheme. They had lured hundreds of people and then disappear. We are investigating the case and are also finding out the number of people that have been duped,” a police official said.

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