{"id":112628,"date":"2019-08-27T22:44:38","date_gmt":"2019-08-28T05:44:38","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=112628"},"modified":"2019-11-07T02:22:59","modified_gmt":"2019-11-07T02:22:59","slug":"hacker-pleads-guilty-in-australias-first-crypto-theft-bust-100000-xrp-stolen","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/hacker-pleads-guilty-in-australias-first-crypto-theft-bust-100000-xrp-stolen\/","title":{"rendered":"Hacker pleads guilty in Australia’s first crypto-theft bust, 100,000 XRP stolen"},"content":{"rendered":"

A 24-year-old woman in Sydney was found guilty of stealing 100,000 XRP<\/a>\u2014worth $300,000 at the time of the theft\u2014in January of last year, reported<\/a> The Sydney Morning Herald. The perpetrator, Katherine Nguyen, is the first Australian found guilty of a crime involving cryptocurrency theft in the country.<\/p>\n

Background on the arrest<\/h2>\n

Australian authorities arrested Nguyen for stealing 100,000 XRP after she hacked the email of a 56-year old man, of the same surname, according to a report<\/a> published on October 2018. It\u2019s unclear whether the two victims and the perpetrator are related.<\/p>\n

Her hard drives, laptop, and mobile phone were seized in the bust. Authorities charged her for hacking the man\u2019s email account, changing his password, and setting up two-factor authentication to deny him access from his account.<\/p>\n

The detectives further claimed she accessed the victim's cryptocurrency account and stole over 100,000 XRP, worth $27,000 at current prices. The victim told police he didn't have access to his account for two days as a direct result of the hack.<\/p>\n

Recent Update<\/h2>\n

Investigators later discovered Nguyen converted the XRP to Bitcoin<\/a> on a Chinese crypto exchange and laundered them into several wallets.<\/p>\n

Arthur Katsigianis, the cybercrime unit commander, told reporters after arresting the perpetrator:<\/p>\n

“It's a very significant crime, and it's the first we know of its type in Australia where an individual has been arrested and charged for the technology-enabled theft of cryptocurrency.”<\/p><\/blockquote>\n

Katsigianis added:<\/p>\n

\u201cThis is where the criminal environment will expand and become ever more dangerous, particularly for people in the community trying to invest their monies in cryptocurrency…Personal information is a very valuable commodity to the criminals, and it should be treated and secured as you would cash.\u201d<\/p><\/blockquote>\n

Verdict<\/h3>\n

Scams<\/a> and hacks are still common among cryptocurrency users. Given the relative ease at liquidating stolen funds, cryptocurrency holders make ideal targets\u2014emphasizing the importance of online anonymity<\/a>, cyber-security<\/a>, and proper internet hygiene<\/a>.<\/p>\n

As law enforcement authorities become more sophisticated, a greater number of hackers and scammers will likely be brought to justice. However, the number of victims will also multiply as the number of mainstream crypto-users increases.<\/p>\n

For Katherine Nguyen, she is scheduled to be sentenced in October and there is a good chance she will face jail time for the hack.<\/p>\n","protected":false},"excerpt":{"rendered":"

A 24-year-old woman in Sydney was found guilty of stealing 100,000 XRP\u2014worth $300,000 at the time of the theft\u2014in January of last year, reported The Sydney Morning Herald. The perpetrator, Katherine Nguyen, is the first Australian found guilty of a crime involving cryptocurrency theft in the country. Background on the arrest Australian authorities arrested Nguyen […]<\/p>\n","protected":false},"author":167,"featured_media":112633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16041],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nHacker pleads guilty in Australia's first crypto-theft bust, 100,000 XRP stolen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/hacker-pleads-guilty-in-australias-first-crypto-theft-bust-100000-xrp-stolen\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hacker pleads guilty in Australia's first crypto-theft bust, 100,000 XRP stolen\" \/>\n<meta property=\"og:description\" content=\"A 24-year-old woman in Sydney was found guilty of stealing 100,000 XRP\u2014worth $300,000 at the time of the theft\u2014in January of last year, reported The Sydney Morning Herald. 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