Chinese police are investigating the theft of $87млн in cryptocurrency

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Three people were arrested on suspicion of hacking into people’s computers and theft of the virtual currency worth about 600 million yuan ($87 million), according to the police Department in the Northwest of China.

According to police officials, the case is the largest cryptocurrency criminal investigation in the country, the newspaper reports the Huashang News. Police began investigating the case in March, after a complaint from one of the users on computer hacking and theft of its accounts with cryptocurrency Bitcoin and Ethereum worth more than 100 million yuan.

As noted in the police Department, so far they haven’t had to deal with such cases and this is the first investigation associated with the virtual currency in their region.

The skillful concealment of criminal acts

The use of sophisticated modern technology helped the hackers to successfully cover their tracks.

They split the proceeds from the sale of stolen virtual currency into smaller pieces and then conducted multiple transactions to confuse the trail.

In the process of investigation, the police had to perform more than 30,000 disparate information and documents to bring to help representatives of domestic Internet companies before they were able to identify the first suspect, named Zhou from Hunan province.

Then the police took two months before he was discovered two other suspects: one from Beijing, one from the province of Jilin.

Police led them around the clock, before all three criminals were arrested during coordinated actions in different regions of the country.

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Tags: China

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