The attackers used the cryptocurrency investor’s face ID to forcefully unlock the wallet and transferred $4.1 million to his address in China on January 1, according to local news outlets.
The attackers identified investors at an onsite gathering held for cryptocurrency investors. After the event, the attackers tracked the investor to a parking lot and restrained him in his vehicle. The attackers then forcibly used the investor’s facial recognition to unlock their mobile phones and cryptocurrency wallets.
After converting the investors’ funds into Tether (USDT), the attackers transferred the total amount to their own wallets, totaling 4.1 million USDT.
Once the transfer was complete, the attackers left the crime scene. The investor immediately applied to the legal authorities.
China’s legal framework recognizes Bitcoin as a “specific virtual commodity”. This means that Bitcoin has valuable properties and can be stolen. Moreover, the essential technical attributes of cryptography also position it as “valuable computer data” within the scope of computer information systems protected by criminal law.
Based on these legal frameworks, cryptocurrencies are banned in China, but the attacker is still considered a thief. 10,000 RMB) or imprisonment for two years and a fine of $877,40 (6,000 RMB).
In reference to the incident, Chinese law enforcement agencies are urging crypto investors to flaunt their wealth, wear the coin’s logo to attract attention, and travel far away to meet strangers. I warned you not to go.