Chinese Seize $1.5 million Worth of Cryptocurrencies From FIFA World Cup Gambling

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13 July, 2018

Police officials in China seized more than $1.5 million worth of cryptocurrencies tied to illegal gambling on the FIFA World Cup.

According to Xinhua, police first noticed advertisements that claimed an unnamed gambling establishment would "accept international recognized cryptocurrencies including bitcoin, ether and litecoin" in order to draw in users.

In an eight month period, some 333,000 users patronized the site with some $1.5 billion taken in over that period.

A spokesperson from the police department in Guangdong province issued a statement saying the task force will "maintain a highly concentrated attention" on cracking down online soccer gambling and advised soccer fans to watch the games "rationally and consciously."

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FIFA World Cup

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