Hackers Loot USD1.3 Million in Gems and Gold Through E-Commerce Scam
Liao Shumin
/SOURCE : Yicai
Hackers Loot USD1.3 Million in Gems and Gold Through E-Commerce Scam

(Yicai Global) June 11 -- The Xiaogan Public Security Bureau in central China has arrested four suspects accused of scamming their way into CNY8 million (USD1.3 million) worth of gold and diamonds -- through e-commerce.

A man surnamed Zhang and three associates bagged 20 kilograms of gems and gold by placing 106 online orders at CNY1 (USD0.16) apiece after hacking the website's payment system, state-backed news site The Paper reported, citing the provincial public security bureau in Hubeu province, home to Xiaogan.

The case came to light on Nov. 10, 2017, when the PSB in Anlu received a report that a well-known online retailer had been hacked multiple times from Oct. 17 through Oct. 24.

Police had been chasing their tail across the country trying to crack the case, trekking to Beijing, Inner Mongolia, Hebei and Guangdong and probing more than 100 accounts at over 20 banks. The breakthrough came on Feb. 28, when officers discovered that 104 of the orders had been sent to the gate of a building materials market in Zhejiang province.

Zhang, originally from Xiaogan, had collected the goods there over three consecutive days and was arrested on April 27. On May 9, he revealed where the contraband was hidden and police retrieved it the same day.

Editor: James Boynton

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Keywords: E-COMMERCE , Hacker , Internet Scam , GOLD , Diamond , Fraud