Chinese authorities have reportedly arrested three suspected hackers believed to be responsible for the theft of about $87 million in cryptocurrency, according to The Jakarta Post. The arrests were made after a lengthy investigation that began in March 2018 to examine complaints that hackers stole roughly $15 million of Bitcoin and ether by seizing control of a computer.
25-year-old Serbian and Italian citizen Martin Marisch was arrested at San Francisco International Airport on August 8 and charged with an alleged hack of Electronic Art’s gaming servers that resulted in the theft of roughly $324,000 of EA’s in-game currency. On Thursday, a federal court judged ruled that he could be released to a halfway house while awaiting trial, if he paid $750,000 bail using Bitcoin or some other form of cryptocurrency.
On Friday, The UK Financial Conduct Authority (FCA) published an updated warning on its website about the danger of cryptocurrency investment scams, advising consumers to be skeptical of online ads that promise “high returns on investments in cryptocurrencies.” The warning also reminded consumers that the FCA has no regulatory authority over cryptocurrencies.
California resident Michael Terpin has filed a lawsuit against telecommunications firm AT&T, alleging that the company’s negligence caused him to suffer cryptocurrency losses totaling about $24 million. He filed the complaint in a Los Angeles District Court on Wednesday, according to a report from CNBC that noted the full scope of damages sought by the plaintiff:
In a recent interview with Bloomberg at the Players Technology Summit in San Francisco, Coinbase CEO Brian Armstrong said that Bitcoin adoption and use is growing every year. However, he suggested that real mass adoption of Bitcoin as a payment solution is going to take time. Armstrong compared the industry’s growth with that of the internet nearly two decades ago: