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

Connecticut Former Funeral Director Who Gambled Away Families' Funds Enters Guilty Plea

Connecticut Former Funeral Director Who Gambled Away Families' Funds Enters Guilty Plea

Phillip Pietras, 51, is expected to be sentenced to more than seven years behind bars.
Prosecutors Identify 18 Allegedly Rigged Pitches for Emmanuel Case Trial

Prosecutors Identify 18 Allegedly Rigged Pitches for Emmanuel Clase Trial

Federal prosecutors have identified 18 pitches, including one from a 2024 playoff game, that they allege involved sharing with bettors.
Prostitution, Bestiality and the FBI: Will Congress Act? There's a Bet for That..... But It's Not What You Think

Prostitution, Bestiality and the FBI: Will Congress Act? There's a Bet for That..... But It's Not What You Think

FBI Director Kash Patel defended a hiring policy change Tuesday that allows some applicants who have engaged in prostitution and bestiality to be considered for employment, insisting that the move was made to enable victims of those acts to apply for a job without fear of automatic disqualification.
St. Petersburg Florida Venues Subject of Early Morning Gambling Raids

St. Petersburg Florida Venues Subject of Early Morning Gambling Raids

Action Arcade and The Zoo Sports Club and Grille in St. Petersburg hit as part of “Operation Final Spin.”