China breaks up underground $1.5 billion World Cup crypto-gambling ring

China breaks up underground $1.5 billion World Cup crypto-gambling ring
ôîòî ïîêàçàíî ñ : thenextweb.com

2018-7-13 11:49

In a first for China, an illegal World Cup gambling ring has been busted holding more than $1. 5 billion in live bets – all in cryptocurrencies. Six major suspects are in custody. Nestled in a southern Guangdong province, the syndicate is reported to have themselves been sitting on $1.

5 million in cryptocurrency, which was seized by police, alongside half that in yuan, stored in bank accounts – now frozen. Surprisingly, no privacy coins – ones that provide inherent anonymity – were accepted by the platform, just Bitcoin, Ethereum, and Litecoin. Ballsy, considering the sheer amount of money supposedly flowing through…

This story continues at The Next Web

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