The Crypto world wakes up to another significant scam news. An anonymous person claimed to hack the personal data of 1 billion Chinese citizens and offers to sell it for 10 bitcoins. The scammer extracted personal information from the Shanghai police records as per the recent reports.
Following the disclosure of a potential data breach, investigations have begun and will continue until the extent of the breach is determined. It could be the largest data breach ever if it turns out to be true.
The claimer is identified as “ChinaDan”, who posted his confession in the hacker forum/breach forum, revealing his intention to sell 23Terabytes of data for 10 bitcoins, which equates to almost $200,000.
The Shanghai police database contains data of billions of citizens, and hackers might have gained access to personal details such as phone numbers, names and addresses. If immediate action is not taken, the hackers might extort money from people by stealing their personal information.
Shanghai police department and government haven’t commented yet after this news made headlines.
Reuters attempted to reach this self-proclaimed hacker; however, they failed. In China, every social media channel poured data leak posts in bulk, creating a worrisome environment in the country.
If it turns out to be true, the data breach will affect billions of people. Many speculations raise questions regarding the truth behind the fraud. Some tech experts find it hard to categorize it as a rumor or a real scam.
The incident indicates the lack of vigilance and management of the public’s personal data. Stringent laws need to be imposed to avoid such shameful situations.