$1.5M in Crypto Seized By Chinese Authorities in Connection with FIFA Gambling

[kreslik.news]

More than $1.5 million in cryptocurrencies have been seized and six individuals have been arrested by local police in China in connection to a crackdown on gambling surrounding the FIFA World Cup.

In a report on July 11, Xinhua reported that authorities in Guangdong province had originally identified an unnamed gambling platform in May that would “accept international recognized cryptocurrencies including bitcoin, ether and litecoin.” An investigation allegedly began shortly thereafter.

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It was soon discovered that the platform was a traditional betting platform that was capable of accepting and distributing cryptocurrencies. The platform ... (read more)