Chinese Engineer Arrested for Stealing 100 Bitcoin From His Own Company. The engineer is from Beijing and has been arrested after he found out a failed hacking attempt to his company and taking advantage of the situation to steal some of the money for himself. Although, 90% of the loot has been returned but he can still go to jail for as much as seven years.
The engineer named Zhong Mo, a tech company employee, allegedly used his position to steal 100 bitcoins from his employer. Zhang Mo arrest has been confirmed by the police.
Zhang Mo was arrested by The Haidian police. Haidian is the area where most universities are located in Beijing and contains the Zhongguancun electronics district where many tech companies have their Chinese headquarters, locally known as “China’s Silicon Valley.
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After losing 10 bitcoins to a phishing scam and apparently getting cold feet, the employee returned the remaining 90 bitcoins to the company. According to the exchange rate at the time of the incident, September 16, 2017, 100 bitcoins were worth about $380,000.
As to how many years Zhang Mo could spend in the prison, the prosecutor in charge of the case said that according to China’s Criminal Law, violating state regulations regarding data stored in a computer system, the employee can be sentenced to imprisonment of no more than three years, but if the circumstances are found to be particularly serious he can face up to seven years in prison, plus a fine.
What happened could be described as a state of Who Watches the Watchmen?