The U.K. Government is seeking to keep most of the $7 billion in Bitcoin it seized in connection with a Chinese investment fraud, following the conviction of the fraud’s alleged organizer this week.
Zhimin Qian pleaded guilty on counts of possessing and transferring criminal property at Southwark Crown Court on Monday, following last year’s conviction of her assistant Seng Hok Ling (also known as Jian Wen) on similar counts. This conviction now raises the question of who will keep the 61,000 BTC originally seized by UK authorities in 2018, with upwards of 120,000 victims in China seeking compensation for their losses.
Read more…
Source: Decrypt News
Sign up for the Cyber Security Review Newsletter
The latest cyber security news and insights delivered right to your inbox
Related:
- Hackers Breach Virginia Bank, Make Off With Millions
July 25, 2018
Hackers have compromised a bank in the United States twice in the past eight months and made off with millions of dollars. But the cyber attacks has resulted in a spat between the bank and its insurer provider which is refusing to fully cover the losses. The incident is a salient reminder of the online threat being ...
- Emotet Malware Evolves Beyond Banking to Threat Delivery Service
July 24, 2018
The Emotet trojan has been popping up in the news for years: From widespread malspam infections of banking German targets in 2014, all the way up to the costly infection of a New Hampshire town’s computer network in July. And while the tricky Emotet malware first emerged targeting banking credentials, lately researchers have spotted the trojan ...
- Massive Malspam Campaign Finds a New Vector for FlawedAmmyy RAT
July 20, 2018
A widespread spam campaign from the well-known financial criminal group TA505 is spreading the FlawedAmmyy RAT using a brand-new vector: Weaponized PDFs containing malicious SettingContent-ms files. The SettingContent-ms file format was introduced in Windows 10; it allows a user to create “shortcuts” to various Windows 10 setting pages. “All this file does is open the Control Panel ...
- Singapore’s Largest Healthcare Group Hacked, 1.5 Million Patient Records Stolen
July 20, 2018
Singapore’s largest healthcare group, SingHealth, has suffered a massive data breach that allowed hackers to snatch personal information on 1.5 million patients who visited SingHealth clinics between May 2015 and July 2018. SingHealth is the largest healthcare group in Singapore with 2 tertiary hospitals, 5 national specialty , and eight polyclinics. According to an advisory released by Singapore’s Ministry ...
- Cybercrooks slurp nearly $1m from Russian bank after pwning router at regional branch
July 20, 2018
Hackers stole almost $1m from a Russian bank earlier this month after breaching its network via an outdated router. PIR Bank was looted by the notorious MoneyTaker hacking group, according to Group-IB, the Moscow-based security firm called in by the bank to handle incident response. Funds were stolen on 3 July through the Russian Central Bank’s Automated ...
- Indictments Against 12 Russians Show How Hackers Were Hacked
July 18, 2018
Hi everybody, Jordan Robertson here. I cover cybersecurity in Washington, D.C. Today’s newsletter is about Special Counsel Robert Mueller’s indictment this week of 12 Russian military officers for allegedly orchestrating the hacks of the 2016 U.S. presidential election. The indictment, which I encourage you to read if you’re interested in technical details about how the hacks worked, is remarkable in a number ...