What are the historical roots of cryptarithmetic?

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A typical cryptarithmetic is:

    S E N D         9 5 6 7
+   M O R E     +   1 0 8 5
-----------     -----------
= M O N E Y     = 1 0 6 5 2 

On the internet it is said: "The invention of Cryptarithmetic has been ascribed to ancient China." But I don't find some evidence.

The statements sounds dubious to me since china doesn't have a letter system. Notwithstanding problems with ancient position systems. Could somebody explain?