Asia

Chinese police arrests over 540 for online football gambling

Published

7 years ago

July 13, 2018

Niji Narayan

Photo source: Goal.com/Getty

Reading Time: < 1 minute

The police have nabbed over 540 suspects in the Guangdong Province of China for running illegal online football gambling using Bitcoin. It is estimated that the racket deals with more than 10 billion yuan (1.5 billion U.S. dollars) of money through betting.

There were 20 gangs, 70 mobile apps and 250 online chat groups involved in the racket. All these have been shut down and servers, computers, cellphones and bank cards have been confiscated.

Police noticed an online gambling platform that accepted bitcoin in May and launched an investigation. The platform accumulated 330,000 members in eight months.

Police arrested six key members in southwest, central and southern China, froze assets of over 5 million yuan, and confiscated virtual currency worth over 10 million yuan.

Another 20 more gambling gangs have been busted during the World Cup.

Source: xinhuanet.com

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.