After Six Months of Investigation, the Chinese Officials Nabbed Suspects for $87 Million Cryptocurrency Theft

Chinese officials nabbed three suspects for stealing cryptocurrency

A lot of people in some quarters are starting to trust the police in carrying out strict investigations to the conclusion. Before that, one common problem was credit card hacking and online dating scams. Some developments from recently had shown that these syndicates work in a coordinated manner to avoid been caught by the law enforcement agencies. The Chinese officials have had the ability to nabbed three suspects for stealing about $87 million or 600 million Yuan worth of cryptocurrency from different computers since they believe that they could not be arrested because of the virtual nature that currencies have.

But, later in 2017 and in February this year, the moves for the total ban of crypto activities such as trading, exchanges, as well as investing, has been banned as it was announced in a report by Financial News, the newspaper arm of the People’s Bank of China. They said that their purpose actually was to snuff out the “dying cinders” of cryptocurrency trading, as well as initial coin offerings which are glowing once again.

Stolen crypto assets made up of Bitcoin and Ether

They also had the ability to block all websites which had something to do with cryptocurrency and also delete such applications from online stores, as well as programs in smartphones.

One victim of a hack like that by surname Zhang was bold to approach the Police in the northern city of Xian in March to complain that his cryptocurrency assets which were worth $15 million or 100 million Yuan was hacked after his computer details were accessed through hacking. Most of the crypto assets which were stolen are made up of Bitcoin, as well as Ether.

Read more: