Posts Tagged ‘AI Market’

How Dubai Police used AI to arrest a gang of Bitcoin Heist?

Dubai police have arrested a gang of ten members for their alleged involvement in a cryptocurrency heist. The gang has been accused of stealing $1.9 million worth of bitcoin. This is not the first time that the specific digital coin is involved in a theft. More than $1 billion worth of virtual currencies has been stolen by hackers in less than a decade. This is further evidence of the virtual currencies growth despite tightening of regulations.

Nabbed Quickly

The latest episode of stealing happened only on Wednesday last. The Dubai police have quickly rounded up the ten-member gang on Saturday itself. One of the reasons is that they tried to lead a millionaire lifestyle and it failed to last long. It is tough to say whether the idea of those accused is practical though it might have looked it to be better on paper. Coingeek reported that the ten-member gang has taken over an empty office. They have pretended that they were acquiring the space for their new office.

This followed setting up their nefarious plan in action. The gang sought possible victims in AI market Muraqqabat using the trick that it was keen on acquiring cryptocurrency. This resulted in finding at least two candidates. Incidentally, both of them are brothers. They have also agreed to meet the buyers in their office. The drama has unfolded only after that much like the cinemas.

Once the brothers reached the gang’s office, they were assaulted at will. On top of it, they have robbed the two at gunpoint. Three of the gang of ten was keeping a watch outside the office whereas other six persons waited at the office. The tenth person was busy in arranging the Cristal champagne for them. The two brothers have managed to free themselves after being left inside the office. They were also tied up. Immediately after their escape, the two brothers have gone to the police on the same day.

The two were also in a position to recognize the leader of the group. The police found them in a neighboring emirate. They have confessed to the crime, and the police have taken them into their custody. The key factor is that within a span of two days, all the ten suspects were found in four different emirates. Once they found the place, it was a question of time to arrest them.

Smart Programs

Criminal Investigation Affairs’ Assistant Commander-in-Chief, Major General, Khali Ebrahim Al Mansouri, disclosed that the police could use artificial intelligence and small programs to keep track of the gang. That resulted in locating the gang members in four emirates.

The current year has seen a lot of high-profile thefts involving cryptocurrency. For instance, a Russian crypto blogger has carried away in January as he has amassed wealth from virtual currency. He reportedly had about $380 million rubles that were stolen after being assaulted. Earlier this month, a Malaysian was attacked in Singapore and was robbed about $365,000 though it was later termed as a bogus sale.…