Police arrests Chinese Bitcoin exchange owners suspected of fraud
Posted on 04 December 2013.
Three individuals allegedly involved in the recent ransacking of the Hong Kong-based Global Bond Limited Bitcoin exchange have been arrested in China.


According to a report by the Xinhua News Agency, the mastermind of the operation was a 29-year-old men by the surname of Liu who had apparently created the exchange in May 2013.

Other arrested suspects include a 24-year-old man surnamed Jin who is thought to have been in charge of the platform's daily operations, and a 33-year-old surnamed Huang, in charge of the exchange’s financial management.

The three suspects have apparently been arrested mere weeks after the exchange was seemingly compromised and defaced, and consequently closed down. The exchange’s customers - mostly from mainland China - were almost immediately suspicious of the explanation offered by the operators.

The fact that the contact information on the site and the claim that GBL had received a license to operate a digital currency exchange from the Hong Kong authorities ultimately turned out to be bogus, were indications that this was likely a scam.

The investigation by the police was started after one of the exchange’s customers reported the theft of his Bitcoins, and is believed that the total losses experienced by the investors could reach up to 25 million yen (a little over $4 million).









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Using Hollywood to improve your security program

Posted on 29 July 2014.  |  Tripwire CTO Dwayne Melancon spends a lot of time on airplanes, and ends up watching a lot of movies. Some of his favorite movies are adventures, spy stuff, and cunning heist movies. A lot of these movies provide great lessons that we can apply to information security.


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