Crypto Crime in Japan; Chinese Executive Arrested

A Chinese corporate executive in Tokyo, Japan was arrested for an alleged cryptocurrency-related crime.

0
234
Photo by Soumil Kumar

Lin Xiaolin, a Chinese executive living in Tokyo, Japan was finally put behind bars after almost a month since his initial arrest. The 30-year old Chinese man was apprehended for allegedly taking part in a cryptocurrency-related crime where he opened crypto accounts which he later on sold to a criminal group.

On March 15, Lin was arrested for having allegedly opened an account at a crypto exchange in Tokyo by illegally accessing its server all the way from China. Lin had then allegedly used the name of a Vietnamese individual for the crime.

The account was then sold to a criminal group for 100,000 ¥ or around US$935.00. The group is then believed to have transferred cryptocurrency taken from a third party to the illegally bought account.

Lin is believed to have opened six accounts in total. Three of which were used in criminal transactions. Along with the accounts, Lin is also believed to have sold other “tools” for criminal use.

According to the Japanese authorities, Lin had acquired the personal information he used for the accounts from a Vietnamese acquaintance to whom he paid 30,000 ¥.

In February, four Vietnamese individuals were arrested for the sale of information to Lin.

Lin Xiaolin has denied all allegations against him.

LEAVE A REPLY

Please enter your comment!
Please enter your name here