- Jack Kong, ex-chairman of Canaan, faces crypto project hack from within.
- Insider hacker flees to Thailand, yet is arrested and extradited to China within 48 hours.
- Hacker’s longstanding undercover operation involved capturing passwords and tampering with hardware wallets.
In an alarming revelation, Jack Kong, the former chairman of the leading computing hardware company Canaan, disclosed a serious breach in one of his crypto investments. This wasn’t an external cyber-attack but a betrayal from within – an insider was the mastermind behind the theft.
Having gained Kong’s trust, this inside operative spent significant time undercover, meticulously photographing critical passwords and even going to the extent of modifying hardware wallets. Their elaborate scheme, however, didn’t go unnoticed for long.
Upon realizing the magnitude of the hack, the insider decided to flee, choosing Thailand as a sanctuary. But his escape wasn’t to last. Thanks to the prompt collaboration between Chinese law enforcement and their Thai counterparts, the hacker was arrested and subsequently extradited to China in a swift 48-hour operation.
The rapid arrest not only highlights the efficiency and reach of Chinese authorities in such matters but also serves as a cautionary tale for the crypto industry. Trust, even when placed in close associates, can sometimes lead to vulnerability. With the crypto landscape’s evolving challenges, both individuals and institutions must remain vigilant, continuously updating security protocols and maintaining a skeptical approach to internal and external threats.
Recommended News :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
