China Court Sentences Zhou Over Illegal Control of 150-plus Servers

Authorities said 157 government and corporate websites and apps were compromised, and more than 42 million yuan in USDT- and TRX-linked crypto assets were seized, with 28 million yuan later returned on January 21.

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Summary

A court in China sentenced Zhou to four years and four months for illegally controlling more than 150 servers in a case that affected 157 government and corporate websites and apps. According to the source, illicit proceeds were settled in USDT and TRX through multiple crypto wallets. The new report adds that authorities seized more than 42 million yuan in crypto assets linked to USDT and TRX, and 28 million yuan was returned on January 21.

Terms & Concepts
  • USDT: A stablecoin tied to the U.S. dollar that is widely used for transferring value on blockchain networks.
  • TRX: The native token of the Tron blockchain, used for transfers and network transaction fees.
  • Crypto wallet: A digital tool that stores blockchain credentials and is used to send, receive, and manage crypto assets.