Chinese Seize $1.5 million Worth of Cryptocurrencies From FIFA World Cup Gambling

Submitted by Guest on

Written by :

Guest

Published on :

Police officials in China seized more than $1.5 million worth of cryptocurrencies tied to illegal gambling on the FIFA World Cup.

According to Xinhua, police first noticed advertisements that claimed an unnamed gambling establishment would "accept international recognized cryptocurrencies including bitcoin, ether and litecoin" in order to draw in users.

In an eight month period, some 333,000 users patronized the site with some $1.5 billion taken in over that period.

A spokesperson from the police department in Guangdong province issued a statement saying the task force will "maintain a highly concentrated attention" on cracking down online soccer gambling and advised soccer fans to watch the games "rationally and consciously."

Related Content

Chevy Chase Maryland Supreme Court Litigator, Poker Pro Gets 6 Year Prison Sentence for Tax Evasion

Chevy Chase Maryland Supreme Court Litigator, Poker Pro Gets 6 Year Prison Sentence for Tax Evasion

A judge ordered Thomas Goldstein to serve 6 years behind bars without the possibility of parole plus five years of supervised release thereafter with a jury having found the retired Supreme Court litigator guilty on 12 counts that included tax evasion.
Alleged Staten Island Mob Capo Accused of Running Poker Rigging Scheme Requests Change of Plea Hearing

Alleged Staten Island Mob Capo Accused of Running Poker Rigging Scheme Requests Change of Plea Hearing

Portland Trailblazers head coach Chauncy Billups and former Miami Heat star Terry Rozier were also named in the related indictment.
3 Wounded in Stabbing at MGM Grand Casino in Detroit

3 Wounded in Stabbing at MGM Grand Casino in Detroit

The venue is no stranger to disturbing incidents over the years, as Gambling911.com reports.
Trial Continues for One Time Exec of Malta's BestPlay Gaming Ltd Charged With Complicity in Journalist Assassination

Trial Continues for One Time Exec Tied to Malta's BestPlay Gaming Ltd Charged With Complicity in Journalist Assassination

Businessman Yorgen Fenech who once had ties to Malta's BestPlay Gaming Ltd is on trial accused of complicity in journalist Daphne Caruana Galizia voluntary homicide and criminal association.