A recent investigation highlighted a building in Shenzhen's Huaqiangbei district that has become a hub for trading both legitimate and stolen smartphones, particularly iPhones. Victims of theft have tracked their stolen phones to this district, revealing a concerning trend of phone trafficking. The report described how in major cities like London, where phone theft is a booming business valued at millions, thieves employ tactics like ransomware against victims, further complicating the theft incidents. The Feiyang Times building is central to this dark market for mobile devices.
The investigation revealed that a specific building in Shenzhen's Huaqiangbei district, known as the 'stolen iPhone building,' is a hotspot for both legitimate and stolen phones.
A theft victim tracked their stolen iPhone 15 Pro to the Huaqiangbei district, discovering many others had similar experiences, highlighting the problem of phone theft.
In a case of ransomware, a woman whose phone was stolen received threats that her private information would be sold on the black market.
Phone theft is escalating, particularly in major cities where it generates significant revenue, with figures showing London's market for stolen phones amounts to millions.
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