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Chinese police have arrested three “highly experienced” hackers suspected of stealing up to 600 million yuan (around $87.3 million) in crypto, local news outlet Xinhua reported August 18. The alarm was reportedly first raised by an individual identified by the surname Zhang, who is said to have first filed his complaint March 30 with local police in the northwestern city of Xi’an. The victim claimed that his computer had been hacked, resulting in the theft of Bitcoin ( BTC ), Ethereum ( ETH ) and other crypto holdings worth up to 100 million yuan ($14.5 million). Initial investigations by a dedicated police task force indicated that the suspects had used a remote attack to transfer funds from Zhang’s computer without leaving a trace, in what is reportedly considered to be a “rare case.” The authorities are said to have received assistance from several local internet service providers, allowing them to identify the first suspect, an individual known as Zhou, within three months....

Police in China has detained three men suspected of pulling the country’s biggest ever cryptocurrency heist — worth 600 million yuan ($87 million).  Theft is China’s Biggest: Reports As multiple outlets report quoting local news publication Huashang News  on August 19, authorities concluded an investigation spanning almost six months into three men who allegedly hacked a computer for Bitcoin and Ether. “Our bureau has not dealt with this kind of case before,” South China Morning Post quotes a police officer as telling Huashang .  “It’s the first virtual currency-related case in Shaanxi.” According to Huashang , the investigation behind the arrest of the men — known as Zhang, Cui and Zhou — began in March, when the victim came forward to report a hacking of his computer. At the time, losses were thought to total 100 million yuan. Having analyzed “30,000 pieces of information” related to the event and the alleged perpetrators, the arrests were made on Wednesda...

On Aug. 15, American investor Michael Terpin filed a $224 million lawsuit against AT&T. He believes that the telecoms giant had provided hackers with access to his phone number, which led to a major crypto heist. Michael Terpin is a Puerto Rico-based entrepreneur and CEO of TransformGroup. He is also a co-founder of an angel group for Bitcoin (BTC) investors named BitAngels and of a digital currency fund, the BitAngels DApps Fund. Terpin claims that he lost $24 million worth of cryptocurrencies as a result of two hacks that occured over the course of seven months: The 69-page complaint he filed with California law firm Greenberg Glusker mentions two seperate episodes, dated June 11, 2017 and Jan. 7, 2018. In both cases, as per the document, AT&T, of which Terpin was a longtime subscriber since the 1990s, failed to protect his digital identity. Now, Terpin is seeking $200 million in punitive damages and $24 million in compensation from the telecommunications corporation. ...