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:
- Europol and Global Cyber Alliance team up to fight cyber-crime
January 30, 2017
Europol and the Global Cyber Alliance (GCA) have signed a Memorandum of Understanding (MoU) to cooperate on decreasing systemic cyber-risk and improving internet security throughout Europe and beyond. As part of the MoU, Europol and GCA will fight cyber-crime through the exchange of information on cyber-crime trends and joint international projects to increase cyber-security. To this end, ...
- Smaller firms set to ‘face £52bn in fines’ for security breaches as cyber-crime skyrockets
January 14, 2017
British firms were each subjected to an average of almost 230,000 cyber attacks in 2016, according to analysis from business internet service provider Beaming. The average volume of attacks hitting individual company firewalls passed the 1,000 per day mark for the first time in November. Meanwhile, the Payment Card Industry Security Standards Council suggested that UK firms ...
- Netflix Users Under Attack As Hackers Try to Steal Credit Card Info
January 10, 2017
Security company FireEye detected a new wave of attacks aimed at Netflix users, with cybercriminals now turning to phishing schemes in order to steal their personal information, including credit card data, social security numbers, and other details. Although it seems that the attacks have been suspended, Netflix users in the United States should always keep an ...