UK Hacker Who Stole from Over 500 Coinbase Accounts Sentenced
A major breakthrough in the fight against cybercrime was achieved as a UK computer hacker, Elliot Gunton, was sentenced to three and a half years in prison. Gunton, who compromised over 500 Coinbase accounts in 2018 and 2019 through phishing websites, pleaded guilty to conspiracy to commit fraud outside the UK and money laundering.
Details of His Scam Tactics
Gunton used phishing websites to trick Coinbase users into revealing their login details. This allowed him to steal from over 500 accounts, causing significant financial loss to the victims. Authorities have reported that Gunton stole approximately £800,000 ($1 million) in cryptocurrency. His fraudulent activities were part of a broader conspiracy to commit fraud and launder money.
A United Kingdom computer hacker who compromised over 500 Coinbase accounts in 2018 and 2019 via phishing websites has been sentenced to three and a half years in prison for his role in the scam. Elliot Gunton pleaded guilty to conspiracy to commit fraud outside the UK and money…
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
— Wu Blockchain (@WuBlockchain) July 29, 2024
Confiscated Assets
During the investigation, authorities confiscated a significant amount of crypto assets from Gunton. They recovered around £275,000 ($350,000) worth of digital assets, along with various devices used in his criminal activities. This seizure has helped mitigate some of the financial damage inflicted on his victims.
The sentencing of Gunton marks a significant victory for authorities in their ongoing efforts to combat cybercrime. By holding him accountable for his actions, the court has sent a clear message that such criminal activities will not go unpunished.
Impact on the Community
The arrest and sentencing of Gunton bring a sense of relief to the victims and the broader cryptocurrency community. It highlights the importance of staying vigilant against phishing scams and other cyber threats.
In short, Elliot Gunton’s sentencing is a crucial step towards justice for those affected by his crimes and a reminder of the importance of cybersecurity.
Read also: Bitcoin enthusiasts explain Why Bitcoin Could Reach $200,000 Soon
Major Coinbase Hacker Finally Caught and Sentenced to Prison
https://bitcoinik.com/major-coinbase-hacker-finally-caught-and-sentenced-to-prison/feed/
https://bitcoinik.com/major-coinbase-hacker-finally-caught-and-sentenced-to-prison/feed/
