Chinese Gang on the Run After Stealing $2M Worth of Crypto From Family

The Chinese police force is after a gang of criminals who stole $2 million worth of crypto assets from a family. The group broke into the home at Tambon Ban Mai, Muang, by midnight and persuaded the victim to secure an on-chain transfer to them.

The victim, Ke Jibao, reported to the police that the criminals attacked the family while they were asleep on Wednesday and carried out the exploit. According to the 35-year-old victim, the gang told them to call a relative in China to transfer digital assets to them.

The house contained six residents, three men and three women, of whom Jibao, his wife, and a maid were among. Jibao told the police that the gang was armed with guns and knives and tied his wife and maid’s hands and feet.

Clearing Traces

According to the police, the criminals made away with the home security camera, which recorded the entire operation after confirming the receipt of the transferred asset. The thieves also drove off with Jibao’s black Toyota Alphard.

The stolen car was later discovered at 1:30 p.m. the same day near a power plant in Liap Khlong Prapa. The police have taken the vehicle to forensics to investigate.

Notably, the report didn’t reveal the type of digital asset the criminals demanded or the medium from which it was transferred. Information of that nature would help the recovery process, which is more probable in recent times than when blockchain technology was in its infant stages.

Recent reports have indicated that funds stolen from victims through cryptocurrencies are recoverable. CoinTab reported that a couple who stole $6.5 million from Crypto.com were apprehended after three years. Ronin Network also recovered $5.7 million from the famous 2022 hack with the help of Binance and Chainalysis.