NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Tokyo: Man Arrested for Selling Crypto Exchange Account to Criminal Group

Rick Delafont
Rick Delafont
7 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Japanese police have stated earlier today that they have arrested a Chinese man in connection with a fraudulent account at one of the nation’s cryptocurrency exchanges. According to the authorities, the man later sold the account to a criminal group for profit.

Chinese Man Bought Stolen Details From One Group and Sold Them to Another

The arrest has been made against an executive living in Tokyo named Lin Xiaolin. The 30-year-old was detained on March 15. According to reports in the South China Morning Post, Lin Xiaolin had opened an account at a Tokyo-based digital currency exchange last July. He’d accessed the exchange’s server from China and used details of an unnamed Vietnamese person to register the account.

These details are believed to have been obtained through Facebook messages. The identity of the Vietnamese individual is thought to have been purchased for around 30,000 yen – the equivalent of about $315. The details included the name, date of birth, address, and other information typically required to setup accounts at online services such as cryptocurrency exchanges. This data was used to open the fraudulent account at the unnamed Tokyo-based exchange between July 6 and 9. The accused denies all the allegations made against him.

According to the Japanese authorities, after creating the account, Lin immediately sold it to a criminal group. The sum received is reported to have been around 100,000 yen, or about $945. The police believe that the group have been using fraudulent accounts at cryptocurrency exchanges to convert funds taken from third parties to other currencies. Lin Xiaolin is thought to have opened at least six other cryptocurrency exchange accounts. The authorities allege that no less than three of these have been used in illicit transactions.

This February, the Tokyo police have detained four other Vietnamese individuals in connection with Lin. This group are thought to have been providing the accused with the information needed to set up the fraudulent accounts. However, at the time the decision was made to not indict the quartet.

The news of Lin’s arrest comes at a time when the Japanese Financial Services Agency is trying to clean up the nation’s cryptocurrency exchange scene. According to the watchdog, many of the exchanges in Japan lack adequate security measures. This was highlighted recently by the hacking of major Tokyo exchange, CoinCheck. During the hacking, cybercriminals were able to make off with over half a billion dollars. This represents the largest hack of a crypto exchange to date. The hack was handled admirably by the exchange. They quickly refunded all of the appropriated funds. Earlier today, we reported that Tokyo-based trading brokerage Monex have expressed interest in buying CoinCheck.

 

Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

OpenAI Announces Deep & Utah Prepares Bitcoin Bill. Can These AI Meme Coins Soar 100x?

OpenAI Announces Deep & Utah Prepares Bitcoin Bill – These AI Meme Coins to Soar 100x

In just 45 days, Utah could become the first US state to roll out a Bitcoin reserve, signaling bullish times...

NewsBTC 4 months ago
ACE Exchange

Ace Exchange Suspects Should Get 20-Year Prison Sentences: Prosecutors

Prosecutors in Taiwan have proposed lengthy prison sentences for ACE Exchange’s founder, David Pan, and former executives as main suspects...

Opeyemi Sule 1 year ago
WazirX

UN Accuses North Korea Of $3B Crypto Theft To Fund Nuclear Weapons Program

In a recently reviewed unpublished report by Reuters, United Nations (UN) sanctions monitors have alleged that North Korea engaged in...

Ronaldo Marquez 1 year ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

fantasy pepe rozgrzewa web3

Fantasy Pepe rozgrzewa Web3. Giełdowa niepewność napędza alternatywy

agnieszkaz 2 months ago
Pepe coin stúpol o 20 %

PEPE za posledný týždeň vzrástol o 20 %. Pozornosť však púta tento AI Pepe meme coin

Nina Šefčíková 3 months ago
จับตา AI Agent บน BNB Chain โอกาสทองหรือแค่กระแส

จับตา! AI Agent บน BNB Chain: โอกาสทองหรือแค่กระแส?

Nida Saenthaweesuk 4 months ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール残り24時間で800万ドル目前 次の100倍銘柄となるか?

    ...

    8 hours ago
  • 1ドル以下で注目される仮想通貨おすすめ、Solana系トークンに割安銘柄あり?

    ...

    8 hours ago
  • Най-добрите криптовалути преди...

    9 hours ago
  • リップルとSECの訴訟終了後に注目すべき新しい仮想通貨プロジェクトとは

    ...

    9 hours ago
  • BTC

    仮想通貨 おすすめ:BTC Bull...

    9 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.