$1.5 billion Bitcoin [BTC] fraud caught by Chinese police: World Cup 2018 – AMBCrypto

Recently in the Guangdong city of China, a campaign was held by the Guangdong police against the World Bank online gambling crimes. As announced on the Guangdong Provincial Public Security Department website [in Chinese], during the World Cup, an online gambling fraud of $1.5 billion worth cryptocurrencies including Bitcoin was caught. Many suspects have been tracked down and successfully arrested by the Guangdong Police.

The campaign led to the arrest of over a hundred suspects who were found involved in the gambling. The campaign led to the destruction of more than 20 gangs and over 70 gambling apps and websites involved.

Over 540 suspects were arrested and 250 chat groups on the social networking platforms were shut down. It was reported that 260 million Yaun was involved leading to the seizure of servers, computer, mobile phones, bank cards, etc. Maoming police were the ones who cracked the first case of Bitcoin cryptocurrency for online gambling, according to the website.

According to a source, the platform that supported the gambling involved betting in Bitcoin, Ethereum and Litecoin. Local police found that many gangs took advantage of the social platform during the World Cup. The Deputy Governor, Li Chunsheng, also the Director of the Public Security Bureau, demanded the criminal gangs to be tracked and arrested and also to safeguard people’s property.

Provincial Public Security Department organized ’21 public security authorities’ after finding out the online fraud done by the criminals. The operation took place in Guangdong, Guangxi, Sichuan and other cities. The Police Department was successful in tracking down and destroying the gang that was a part of this gambling.

The relevant person in charge of the Guangdong Provincial Public Security Department’s network police corps said:

“The public security organs will continue to maintain a high pressure on the online gambling. At the same time, it is an illegal and criminal act to open a gambling platform and participate in online gambling. Please ask the fans to watch the ball rationally and consciously resist gambling crimes.”

Online gambling crimes like betting have grown over the years. After cryptocurrency was introduced, it became easier for the miscreants to continue with their fraudulent activities.

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A graduate in Journalism & Communication from Manipal University. journalist at AMBCrypto.