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Three Hackers nabbed in China over $87 million Bitcoin Theft

Chinese Police currently have in their custody three suspects in connection with an alleged bitcoin theft.

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These three suspects are believed to have stole approximately 600 million yuan (over $87 million USD) worth of cryptocurrency through hacking.

The case has been described by law enforcement officials in Xian, capital of the northern Shaanxi province, as the “highest value cryptocurrency criminal investigation” in the country to date. An officer quoted by the South China Morning Post , commented:

“Our bureau has not dealt with this kind of case before. It’s the first virtual currency-related case in Shaanxi.”

According to what was reported on Saturday by Chinese news agency Xinhua, the three hackers were busted on Aug. 15 in the provinces of Hunan and Changchun and the country’s capital Beijing after a months-long investigation launched by the police.

The investigation was initiated in March, this year when one of the victims, a resident of Xian, notified local police that his computer had been hacked . He complained that the unknown attackers had appropriated 100 million yuan (almost $15 million) in bitcoin core (BTC) and ethereum (ETH).

According to Investigators, the three suspects behind the bitcoin theft are working for top internet companies and had extensive tech background. As at the time of publishing this post, no firm or company name has been revealed.

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Written by Russell

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