Chinese Police Arrest Hackers Linked to $87M Crypto Theft

Chinese Police arrest hackers linked to $87M crypto theft. Reportedly, the individuals hacked into Chinese citizen’s personal computer remotely in an attempt to transfer the funds. 

20 August, AtoZ Markets Chinese police have reportedly arrested three individuals for supposedly conducting a number of illegal cyber intrusions. The individuals were reportedly detained in Hunan, Changchun provinces, and the capital city Beijing. 

Chinese Police Arrest Hackers Linked to $87M Crypto Theft

The arrest follows a months-long investigation, according to some of the online sources. Three individuals have allegedly stolen Bitcoins and other cryptocurrencies worth of around $87 million. Chinese local media states that the police has issued a report, where it notes that the first complaint related to the case has been filed by a victim, identified by the surname Zhang. 

The complaint has been filed to the police in the northwestern city Xi’an back in March. The victim has stated that his computer has been hacked and lost cryptocurrency assets worth approximately $14.5 million.

The police investigation has later identified a suspect with the name Zhou. The forces have been assisted by the number of big internet companies, which decided to remain anonymous, reports state. Mr. Zhou has allegedly hacked into Zhang’s personal computer remotely in an attempt to transfer the funds. 

Chinese Authorities Step up their Crypto Investigations

The investigation further showed that the police has identified Zhou’s two accomplices. They both are reportedly known to be highly experienced hackers. The Chinese enforcement authorities have accused the group of having conducted a number of illegal cyber intrusion into personal and corporate networks in order to obtain crypto assets. The police have estimated the loss at around 600 million yuan, or about $87 million.

As of the moment, the investigation is still ongoing. It is also understood from the online reports that the Chinese police have improved their efforts in relation to the cyber-crimes that have links to cryptocurrency.

Earlier, the authorities in China have arrested 20 suspects, who allegedly used cryptocurrency mining malware in order to infect more than a million computers. That time, the reports noted that criminals have earned more than $2 million in the period of over 2 years.

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