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Computer Administrator Arrested for Millions CNY Worth Bitcoin Theft in Beijing

January 15, Beijing- According to Beijing News, Beijing Haidian police has arrested a computer administrator for stealing 100 bitcoins, now worth millions CNY. The suspect took advantage of the permissions as a computer administrator of a company to modify the computer applications so that he had access to the bitcoin of the company. Now he was arrested by the police before he could dispose of the stolen bitcoin, and detained on suspicion of damaging computer information systems.

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On the evening of September 25 last year, Haidian Branch Xisanqi police station received a theft report from a tech company which claimed that the company’s computer information system has been damaged and 100 bitcoins was stolen.

After technical investigation, the police found that the suspect hacked into the company’s account using the company’s password by remote operations, indicating that the suspect should be an in-house employee. And police believed Zhang, the company’s computer administrator was the primary suspect.

On Jan.2, 2018, Zhong confessed that he just wanted to make some quick money when he knew bitcoin was quite lucrative and traded at a high price on oversea exchanges. He therefore took advantage of his position as a computer administrator in the company to access to the company’s database, and stole 100 bitcoins after decoding the company’s password for bitcoin storage.

Police said that the suspect had no clue where to sell those stolen bitcoins after committing crimes, but found a app called Bitcoin Wallet while searching the Internet. So he deposited the 100 bitcoins into the wallet, and transferred 10 to a special wallet which claims to be able to erase the theft track and evidence. After investigation, the police trace back the remaining 90 bitcoins and return them to the company, as for the 10 bitcoins deposited in the special wallet, it had been gone forever.

It tells that if you want to make money by bitcoin, be prepared and have a good master of the crypto world, or at least know where to trade them.

And for those whoever holds cryptocurrency, you shall never be more cautious, apart from hackers, phishing site, fake bitcoin exchange, fake bitcoin wallets, and now your programmers and computer administrators…

 

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