CHINESE POLICE ARREST BIGGAME DEVELOPMENT TEAM & SEIZE MILLIONS IN CRYPTO

Police in the Chinese city of Yancheng, Jiangsu province, have arrested 15 people behind the online casino dApp BigGame. 

According to local media, in addition to arresting the development team, police also seized 1.3M units of EOS and BTC, said to be worth a total of 16 million yuan (approx. $3.8M USD). 

BigGame enabled players to place bets on games like Dice and Texas Hold’em using EOS smart contracts, and between June 2018 and December 2020 is thought to have generated profits of nearly 60 million yuan (approx. $10M USD). 

Chinese authorities are currently in the midst of an “Internet Cleansing Movement” aimed at shutting down illegal online activities, including gambling.

AYO.NEWS says:

While the Chinese authorities have long railed against online gambling, the fact that police managed to shut down this decentralised operation indicates they are rapidly improving their digital forensic capabilities. We’d say its “time to get out of Dodge” for anyone involved in online gambling in China.