Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own Company

Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own Company

THELOGICALINDIAN - Who Watches the Watchmen An architect from Beijing has been arrested afterwards allegedly advertent a bootless hacking attack to his aggregation and demography advantage of the bearings to abduct some of the money for himself 90 of the boodle has been alternate but he can still go to bastille for as abundant as seven years

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An Inside Job

Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own CompanyZhong Mo, a tech aggregation employee, allegedly acclimated his position to abduct 100 bitcoins from his employer. The Haidian badge afresh accepted his arrest for the abomination of illegally accepting computer information. Haidian is the breadth area best universities are amid in Beijing and contains the Zhongguancun electronics commune area abounding tech companies accept their Chinese headquarters, locally accepted as “China’s Silicon Valley.”

The prosecutors of the Science and Technology Criminal Investigation Department of Haidian advised the case and begin that the accused was an operation and aliment architect of a technology company. The claims are that during a accepted aliment of the company’s server, he begin out that addition approved to abduct the company’s cryptocurrency by hacking, but failed. After eliminating the aberrant interference, the architect acclimated his administrator’s ascendancy to log in to the server himself and admit a allotment of cipher to alteration 100 bitcoins from the company’s backing to his own annual registered on a website alfresco China. He additionally approved to annihilate traces of the act, demography accomplish to abstain tracking.

The Thief Falls Victim to Another Crime

Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own CompanyAfter accident 10 bitcoins to a phishing betray and allegedly accepting algid feet, the agent alternate the actual 90 bitcoins to the company. According to the barter amount at the time of the incident, September 16, 2017, 100 bitcoins were account about $380,000. Local reports affirmation that this is the aboriginal case of bitcoin annexation handled by the badge in Beijing.

The prosecutor in the case said that according to China’s Criminal Law, actionable accompaniment regulations apropos abstracts stored in a computer system, the agent can be bedevilled to imprisonment of no added than three years, but if the affairs are begin to be decidedly austere he can face up to seven years in prison, additional a fine.

Earlier in 2017 addition Chinese aborigine was arrested for burglary bitcoins. The programmer was arrested in Shanghai for an declared theft of ¥20 million (about $3 million).

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