Chinese Police Discovery $1.5 Billion Cryptocurrency World Cup Gambling Ring
Friday, 13 July 2018 Chinese authorities said they broke up World Cup gambling ring which was hosting more than 10 billion yuan ($1.5 billion) worth of cryptocurrency bets on Friday, marking one of the first major sports betting crimes involving digital currency in China, according to The South China Morning Post. Police from the Guangdong province posted an online statement which said they apprehended six major suspects involved in the gambling ring and froze nearly five million yuan in their bank accounts while also seizing more than 10 million yuan worth of cryptocurrencies they owned through the online accounts. The criminals ran the gambling ring from the dark web and accepted bitcoin, ethereum, and...
Business Insider reported that Chinese officials have shut down an online gambling ring that had accumulated $1.5 billion in World Cup bets. The bets were made by participants in cryptocurrencies like bitcoin, litecoin, and ethereum. Police from a southern province in China's said that they had...
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