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Guest Information Of A Major Chinese Hotel Chain Sold For Bitcoin On The Dark Web By August 31, 2018 450 News of what could be the biggest data hack in the history of China has surfaced as hackers sell the information of 130 million Chinese hotel guests for eight bitcoins on the dark web. Hacker…

Guest Information Of A Major Chinese Hotel Chain Sold For Bitcoin On The Dark Web By August 31, 2018 450
News of what could be the biggest data hack in the history of China has surfaced as hackers sell the information of 130 million Chinese hotel guests for eight bitcoins on the dark web. Hacker sell data of 130 million Chinese hotel guests for Bitcoin
A publication on The Next Web’s Hard Fork column reports that the hacker recently made moves to sell the illegally obtained information on a China-based dark web portal for 8 Bitcoin (worth about $57,000).
The news outlet reports that a post made by the seller claims that the data was gathered from a security breach of the Huazhu Hotels Group, one of China’s most influential local hotel chains.
According to a report, the speculated details of the data leaked are as follows: Official website registration information (ID card number, mobile phone number, email address, login password); Check-in registration information (customer name, ID card number, home address, birthday), and Booking information (name, card number, mobile phone number, check-in time, departure time, hotel ID number, room number)
The local media that spotted the dark web advertisement reported that the hackers sold more than 240 million records belonging to 130 million clients, which are roughly 141.5 GB in size.
Chinese cybersecurity group, Zibao speculated that the data was likely obtained when the hotel’s programmers uploaded fragments of their firm’s public database to Github earlier this month.

Since news of the hack surfaced, Huazhu has acknowledged this unfortunate incident, revealing that some progress has been made in a company-run investigation, but did not give any specifics regarding the case. Authorities crack down on cryptocurrencies
This report comes at a time when the Chineses government is seriously cracking down on the operation of virtual currencies.
The Chinese government with local authorities are doing their best to crack down on these illegal occurrences involving the use of cryptocurrencies. A police release noted:
“Those who commit illegal acts including theft, trading and exchange of residents’ personal data will be heavily punished. We are resolute in protecting people’s interest and ensuring information security.”
Just after this announcement was made, the US-listed shares of Huazhu, referred to some as the China Lodging Group fell by about 4%, but have since recovered.

Hackers steal digital assets worth $87 million
In a similar case, the Chinese police have arrested three men suspected to be part of a crypto hack that led to the stealing approximately 600 million Yuan (over $87 million USD).
Law enforcement agents were first notified of the hack in March when one of the victims, a Xian resident complained to authorities that his cryptocurrencies, Bitcore and Ethereum were missing.

A local media outlet reported that the suspects who were arrested about two weeks ago had targeted both personal and corporate computers during the hack. Effect on the crypto community
The leaked information (credit card info, passport information etc.

) in itself may not hold too much value, however, the event could affect the crypto industry in China a lot more.
The Chinese authorities recently banned the websites of more than 124 offshore cryptocurrency exchange desks from operating in the country.

Similarly, China’s largest tech giants Baidu, Alibaba, and Tencent are have also banned all cryptocurrency transactions and discussion forums on their platforms.
These events of involving the use of cryptocurrencies have only worsened the already existing antipathy of the Chinese government towards the nascent industry.
As the Chinese government tightens laws regulating cryptocurrencies, the use of privacy features like VPN may become the last resort for residents to transact, trade, and discuss crypto asset.

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