(Reject: 2)Disgruntled Duo Arrested for Defrauding IT Firm of Bitcoin Worth Hundreds of Thousands Dollars

A report published on Jan. 23 held that the Metropolitan Police Department's Cyber Crime Control Division has arrested two men who had been accused of stealing bitcoins from a wallet that belongs to Bunkyo Ward-based IT company, Vipstar Inc. The said bitcoin was about 78 million Yen, just about $712,000.

The theft took place on the 29th of October 2018. The suspects were able to transfer the funds from the Vipstar account to their own wallet by making 12 unauthorized access to the account. On discovering the fraud, Vipstar firm approached the police in November 2018.

Reportedly, the duo's friendship was established over the internet and it has lasted for several years. They were reported to have apparently never seen face-to-face. While the lead suspect, Yuto Onitsuka, 25-year-old, was a former Vipstar employee and currently an unemployed resident of the capital's Nerima Ward, the culprit, Takuma Sasaki, 28-year-old, was an unemployed resident of Noda in Chiba Prefecture, east of Tokyo and who was seen as working in accordance with the instruction given by Onitsuka.

"I did as I was instructed (by Onitsuka)." Sasaki was reported to have said. And additionally, he withdrew an amount of bitcoin around 6 million yen he used to pay off debts and go on vacation.

When the crime was committed, Onitsuka was chief technology officer at the firm. Being in such a position meant that he was supposed to know the details of customers' accounts and password. Although the stolen crypto was not customer money, it was part of the company's working capital.

Onitsuka admitted to the crime with a statement which suggested that he executed the act as a means to ruin the company.

"I couldn't agree with the management policy of the president at the time, so I thought I'd try and ruin the company," he said.

Besides the bitcoin fraud, the duo was also being accused of committing computer fraud and going against the Act on Punishment of Organized Crimes and Control of Crime Proceeds.