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3 Hackers Arrested for Stealing $87 mil in Cryptocurrency

Chinese police from the city of Xi’an in northern China have arrested three hackers for allegedly stealing an estimated amount of 600 million yuan ($87 million) worth of bitcoin and other cryptocurrencies.

According to the local news outlet Xinhua, the Chinese police claimed that the three hackers organised the massive cryptocurrency heist using numerous illegal approach including cyber-intrusion and hacking against the personal and corporate network systems.

The incident was first notified by the local police when an individual under a surname of Zhang, reported to the authority that his computer had been hacked to steal 100 million yuan ($15 million) in bitcoin and other cryptocurrencies.

His report has prompted the local police to set up a task force to investigate the stolen cryptocurrency case, where they initially revealed that hackers had apparently used remote hijacking techniques to illegally access and take control of Zhang’s cryptocurrency accounts.

Three months after the investigation, the task force subsequently tailed a suspect named Zhou with the help of well-known Internet companies in China. Then, after two months’ of snooping and tracking Zhou’s activities, the task force finally uncover two more accomplices.

After identifying all three of them, subsequent arrest was made where Zhou and his two suspected accomplices is currently in custody. Despite nabbing the culprits involving in the cryptocurrency heist, the investigation remains ongoing.