The Chinese Police Have Shut Down an Illegal World Cup Gambling Platform
According to the Chinese main news portal Xinhua, the law enforcement bodies have confiscated around $1.5 million in digital currencies and arrested 6 people due to the illegal gambling activities. The abovementioned platform first caught attention of the police back in May. It was loudly advertising its services, claiming that its list of payment options included BTC, ETH and LTC besides regular fiat currencies. Although it was done to attract users. but it actually attracted the police, and they began investigating the case. A month later, the results of the investigation were made public. The platform turned out to be a regular gambling outlet, which specialized in bets on football matches. However, its developers somehow managed to incorporate cryptocurrency payments into it. According to the police, the platform was used by a little less than 500 thousand people with a total flow of money exceeding $1.5 million. Such an increased number of users was most likely due to the 2018 World Cup in Russia. Nevertheless, the people running the platform could not get away with it. They were arrested and are now waiting for the trial. Given the fact that cryptocurrency operations are officially banned in China, their punishment might be quite strict. We would like to remind you that a couple of establishments in Moscow started accepting BTC as a means of payment during the World Cup. Subscribe to The Coin Shark news in Facebook: