Chinese Police to Take Legal Action Against EtherDelta

According to the Primite managing partner, exchange is involved in exit scam
07 August 2019   122

Chinese police, according to some reports, are investigating the activities of the decentralized exchange EtherDelta.

This was reported by Primite managing partner Dowey Wan.

She added that platform founder Zachary Coburn sold EtherDelta to a group of Chinese investors. The latter issued an EDT token, shortly after which an exit scam of the trading platform followed. Then angry investors appeared to complain to law enforcement.

She also stressed that the Chinese police are merciless to fraudsters whose actions affect the interests of a large number of retail investors.

Last November, the US Securities and Exchange Commission (SEC) indicted EtherDelta founder Zachary Coburn for managing an unregistered stock exchange.

The regulator’s statement said that the decentralized EtherDelta exchange acted as a secondary market for trading ERC-20 tokens, which the SEC considers to be “digital securities”.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   247

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.