Bitcoin, Crypto currency, Blockchain

Chinese police have reported the arrest in the case of a $87 million crypto-theft

e0c64f0ba0bf4ce50fa7cd96939ff159 - Chinese police have reported the arrest in the case of a $87 million crypto-theft

Crypto-currencies won in the last few years, more and more importance. This also attracted the attention of Criminals has been raised, in particular by hackers and thieves, and the number of thefts is increasing more and more. On 19.08.2018 state media reported that the Chinese police has arrested 3 Suspects who stole 600 million Yuan (about 87 million USD) in crypto are accused by Hacking currencies.

The investigations were initiated, as more and more cases of theft of crypto-currencies. The hackers have attacked various wealthy owners of the leading crypto currencies. The police of the Xi’an province was informed 5 months ago about an alleged theft, as a victim by the name of Zhang display refunded. The hackers have gained illegal access to a Computer. How the Shaanxi Daily reported stolen, the Hacker then 100 million Yuan (about 15 million USD) in crypto-currencies.

For more insights on the state news Agency Xinhua delivered. She reported that the $ 15 million theft currencies, mainly Bitcoin and Ethereum, two of the most important crypto. Shaanxi Daily also revealed that the thieves during the theft traces left behind, which eventually led to a Suspect, Zhou, from the Hunan province.

As a result, Zhou led’s capture to his two accomplices, which led ultimately to the enlightenment of the entire theft series, in a total volume of 600 million dollars. In the course of the investigation, the authorities found out that the 3 hackers have stolen money from various persons and businesses by hacking into their Computer. The local police authorities of the provinces of Xi’an to investigate and Hunan on the case and expect to make further findings.

The frequency of thefts in the crypto world

This incident is one of countless cases of theft in the world of Kryptos and the Blockchain. Already in March, the lack of Mining equipment has received a group of thieves in Iceland to extreme efforts moved to provide the necessary Hardware for Mining. In the course of 2 months, was organised, extremely, Mining Hardware worth about Two million USD stolen.

Coincidentally, the Icelandic police found two months later, evidence that the stolen equipment could be in China. According to a report in the dry, the Icelandic radio, and has initiated the Icelandic police are conducting an investigation after they had received reports that Chinese authorities have recently seized 600 mining calculator. The RAID occurred in the Northern Chinese municipality of Tianjin, where police stormed the Basis of the alleged thieves and the stolen Goods took, after the local power supply system had reported an abnormal power consumption.

Based on the Chinese news channel, XinHuaNet the local police in Tianjin, that this was probably “the largest theft of Electricity in the last years”. Further studies showed that the terminal box of the electricity meter of the thieves was short-closed – a common way to avoid the payment of electricity bills.

In fact, the electricity bill for the operation of the 600 mining computers is immense. The monstrous electricity bill is estimated at hundreds of thousands of dollars.

Hackers pose a threat to the important exchanges

The dangers of a well-organized group of highly skilled hackers know almost no bounds. In January, one of the largest crypto Exchange in Japan, Coincheck, arguably the greatest crypto-currency robbery suffered by the story. In a late-night press conference, the Tokyo stock exchange announced that about 400 million NEM tokens were lost, after the hackers have stolen illegally from the digital Wallets of Coincheck.

Coinchecks President Wakata Koichi Yoshihi and Chief Operating Officer Yusuke Otsuka cherish their losses to around 58 billion Yen (about 533 million dollars).
In comparison, Mt lost. Gox $ 340 million, when they were attacked four years ago, and because of the hack, the Exchange had to close.

Only two months ago Bithumb, the sixth largest crypto Exchange in the world, suffered a devastating Hack in which the perpetrator crypto-steal currencies to the value of about $ 30 million. As a result, the Seoul-based stock market had to freeze all transactions on your platform and payments included and began to transfer Kryptos in cold Wallets, to avoid further losses.
At the beginning of the month, a South Korean Exchange, CoinRail was hacked, for approximately $ 50 million.

If you liked this article you are probably our “important tips” for crypto-newbies.

If you are interested in other interesting news read to are here what cool cruise, the Exchange coins Bank plans or here as a 24-year-old million gathers for a Start-Up establishing an Exchange.

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This article was from English into German:

Christian Rehm

Senior IT Consultant and Crypto Enthusiast always in search of interesting news.

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