Chinese Engineer Arrested For Stealing 100 BTC

Zhong Mo stole 100 bitcoins from his employer; he may be extended to seven years and fined
03 April 2018   176

Engineer from Beijing was arrested after stealing 100 Bitcoins from his company. He noticed the unsuccessful hack attempt. So he decided to use the situation and steal coins by himself. After that, 90% of the stolen was returned, but he can still go to jail for up to seven years. This is reported by Bitcoin .com.

The police of the Haidian District confirmed Zhong Mo's arrest. The Haidian District is the place where most of the universities of Beijing are located, as well as the technological and scientific center of Zhongguancun, where the headquarters of many Chinese IT companies are located, which is why this center is called the "Chinese Silicon Valley".

Prosecutors from the department of investigations of scientific and technological crimes of the police in Haidan studied the case and found that the defendant worked in the company as an engineer for repairs and maintenance. It is alleged that during the regular maintenance of the server, he found that someone tried to steal the company's cryptocurrency by hacking, but the attempt wasn't successful. Eliminating the abnormal interference, the engineer took advantage of administrator's authority uploaded a piece of code designed to transfer 100 bitcoins from the company's account to his own account registered on a website outside of China. He also tried to cover up the traces of the crime by taking steps in order to avoid tracking.

Later, the criminal himself became a victim of phishing scam and lost 10 bitcoins. Then, apparently, he got scared and returned the remaining 90 bitcoins of his company. According to the rate on the day of the incident, September 16, 2017, 100 bitcoins cost about 380 thousand dollars.

According to the prosecutor in charge of the case, according to China's criminal law, for an infringement of state laws on the theft of information from a computer system, an engineer is threatened with imprisonment for up to three years, but if the circumstances prove more serious, he may be extended to seven years and fined.

Australia joins the crypto-discussions arena with Bitcoin & Blockchain Fair

The inaugural Bitcoin and Blockchain Fair will be presented at the Sydney Showgrounds on May 12-13 with an all-round program about cryptocurrency and blockchain
21 April 2018   36

A high profile event in cryptocurrency and blockchain is coming to Sydney, Australia on May 12-13 – Bitcoin and Blockchain Fair. The conference will provide a platform to interact and discuss on all areas of the cryptocurrency and blockchain technology sectors (fintech, investment, venture capital, regulation, ICO, etc.), current opportunities and perspectives in the form of a Forum and an Exhibition Showcases.

The Exhibition Showcase that will allow to exhibit showcases and engage with crypto services providers, government and fintech startups. Forum is the bulk of the conference and is comprised of 2-day sessions to allow international speakers and industry leaders of the crypto and blockchain sectors a chance to share their expertise. May 12 is focusing on cryptocurrency and ICO engagement; May 13 wil cover blockchain technology overview, case studies, solutions and future trends.

The fair is organized by ABF Business and Principal Sponsor Coinspot. Exhibitors and Speakers include attendees from Asia, Europe and USA together with key Australian high profile crypto & blockchain enterprises. The full agenda of the event can be found here.