Home / Crypto Currency / Delaware Helps Catch British Hacker Holding Over $200k in Bitcoin

Delaware Helps Catch British Hacker Holding Over $200k in Bitcoin


MGT Capital Riot Blockchain CEOs SEC Scam

Advertisement

Recent news shows Delaware playing an important role in the capture of British hacker Grant West. U.K. Authorities caught West last year and recovered $700,000 worth of Bitcoin.

The Catch

According to a report by Delawareonline, undercover U.K. officials caught West last year while he was traveling by train. West was convicted of fraud, in addition to other crimes.

Catching West “was the first time London Metropolitan Police arrested a cybercriminal” reports Delawarenewsonline. This case dates back to activity in 2015, with West hacking over 100 different companies.

The same report also uncovers the U.S. Secret Service of Delaware having a part in West’s capture. Roughly one year ago, Delaware helped British police uncover some of West’s stolen capital, finding an account with close to $217,000,000 of value in Bitcoin.

“Delaware for years has been the site of large numbers of government seizures of dollars from the bank accounts of suspected criminals because so many banks keep their central servers in the First State. Now, that has expanded to include bitcoin and other cryptocurrency”, reported Delawareonline.

Grant West – A Formidable Opponent

According to a report by CCN earlier this year, West – aka Courvoisier, hacked “websites of companies such as Sainsbury’s, Uber, Ladbrokes and others. After gaining access into the companies’ websites, he would then obtain personal information of customers for companies”.

West stole the private data of these companies’ clients, via phishing emails, and then proceeded to sell that information online.

A separate report by Delawareonline explains that West was able to cover his tracks by storing his stolen funds in Bitcoin and spreading them out into multiple wallets. During West’s capture, authorities were also able to apprehend his computer, which contained many of the pertinent passwords and information needed to access the stolen funds.

West had stolen private information from close to 165,000 different people, including specifics from 63,000 different payment cards, detailed one BBC report.

One of West’s most notable scams were his phishing emails, disguised as emails from the popular online food service Just Eat. West’s efforts were so vast, that the judge on the case described West as “a one man cyber crime wave” according to BBC. West’s efforts led him to accrue the equivalent of over $2 million in cryptocurrency.

West was given 10 years and eight months in jail for his criminal activities, as stated by computing.co.uk.

The public continues to see repeated news of criminals apprehended in the cryptocurrency space this year. Chinese police arrested hackers guilty of $87 million in stolen crypto funds, stated by an August report from CCN. July also saw CCN reporting on Russian agents hacking emails, in hopes of Bitcoin keeping them anonymous.

Featured image from Shutterstock.

Follow us on Telegram or subscribe to our newsletter here.
Advertisement
Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.