Illegal crypto-casino in China closed by government

16 July 2018

In Guangdong, China, the local police blocked the online casino platform, which is estimated at 10 billion yuan ($1.5 billion) in the crypto currency.

Information came from the Department of Public Security of Guangdong. The platform of online gambling worked on the basis of the financial pyramid and accepted bets from users in the crypto currency. Players could make a deposit in bitcoins, lightcoins and few others. Gamers attracted their acquaintances to participate in gambling on this platform, for which they received a certain reward. Thus, the client base of the online gambling platform was about 330 thousand players, of which 8000 were attracted just in the last 8 months.

Customers of this platform could be players from all over the world. In order to re-fill the account, gamers transferred the crypto currency to the block-chain e-wallets.

The police managed to find a platform for illegal online gambling in the framework of the Clean and Secure Internet 2018 program.

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