Chinese police arrest trio of alleged hackers who stole $87m in crypto assets

August 20, 2018
Chris Wheal

Chinese police last week arrested three alleged hackers who are believed to have stolen cryptocurrencies worth around $87m the Xinhua news agency reported at the weekend.


Chinese hackers alleged to stolen $87m in crypto assets arrested

Three individuals were arrested by police in the provinces of Hunan and Changchun and the capital city Beijing after an investigation that lasted around a month.

Xinhua’s report stated that a complaint was made to the police as early as March by a victim who said his computer had been hacked and up to $14.5m in cryptocurrencies had been stolen.

Internet companies aid

With the assistance of several high-profile internet companies – which were not named in the report – police located a suspect called Zhou who allegedly hacked the victim’s computer remotely to remove the digital tokens. Two accomplices of Zhou were later identified.

Following further investigations, police said they had uncovered a series of illegal cyber security breaches of corporate and personal computer networks that involved the theft of an estimated 600m yuan – or $87m.

Police said the case was still under investigation and it is believed that further arrests could be made.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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