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Trail in Ecuador cyberheist leads to gamers’ crash pad in Hong Kong

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Alan Krieg

For a graphic tracing the money trail from Ecuador to Hong Kong, see: http://tmsnrt.rs/1WugDmp

The $12 million taken from BDA and the $81 million cyberheist from the Bangladesh central bank's accounts at the New York Federal Reserve in February have illuminated weaknesses in the global money transfer system.

In the Ecuador heist, SWIFT was unaware of the January 2015 attack until Reuters contacted the cooperative last month.

A Hong Kong High Court judge in the BDA case described Jiushun and three other companies as appearing to be inactive corporate vehicles controlled by Chinese citizens.

Those four companies received $9 million in the Ecuador heist.

Around the corner from the gaming space is a tennis-themed sports shop, which is listed as the address for the firm that performed legally required secretarial services for Jiushun Group.

Of the $1.968 million that went to Jiushun, $219,794 was passed on by Jiushun to jewelry wholesaler Samdimon HK Limited, according to a Hong Kong High Court decision citing bank transfer details from HSBC.

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Alan Krieg
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