Police in Xian, a Chinese city, have arrested 3 suspects purported to have stolen $90 million worth of Crypto. The investigation of what appears to be China's largest-ever Bitcoin heist, began in March this year when police got information that some hackers had taken over full control of someone's computer (PC) to heist $15 million worth of Crypto.
According to AFP, this helped police follow a "virtual trail," and took them to a suspect in the central province of Hunan, who also helped to reveal two more accomplices. The 3 suspects are all charged with illegally taking $90 million that was obtained by hacking the PCs of individuals and firms.
According to Huashang News, the 3 suspects that have purportedly been studying hacking since they were 13 years old, had all worked for giant technology companies. Even though the 3 suspects were put behind bars last week, the Chinese police investigation is still ongoing and is in collaboration with law enforcement agencies from 3 different provinces in what seems to be Shaanxi Province's first-ever crypto-related case.
Beijing, the capital of the People's Republic of China, has, for over a year, led various high-profile crackdowns on Initial Coin Offerings (ICOs), cryptocurrency crime, exchanges and mining activities. According to the formal Ministry of Justice data, this is bringing an increasing number of cryptocurrency-related formal disputes appearing in many Chinese courts. At the beginning of August 2018, Chinese courts were working on 276 legal cases all related to crypto.
Most of these cases will be tied directly to Beijing's efforts to eradicate rampant cryptocurrency-related hokey-pokey, resulting from provincial and district law enforcement agencies finding it difficult to properly define and interpret the position of the central government on the accurate legality of cryptocurrency trading in the country.