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The Sentence Handed Down to the Hacker Who Compromised Over 500 Coinbase Accounts…
The Punishment of the Hacker Who Seized More than 500 Coinbase Accounts Has Been Revealed! Here are the Specifics
The verdict delivered to the British hacker involved in the theft of over $900,000 through the takeover of more than 500 Coinbase accounts has been made public.
Author:
Utku Yanık
29.07.2024 – 10:55
Update:
8 seconds ago
0
A British hacker has been given a three-and-a-half-year prison sentence for his involvement in a scheme that gained access to more than 500 Coinbase accounts and stole over $900,000.
Hacker Receives 3.5-Year Jail Term for $900,000 Coinbase Scam
Elliot Gunton, who was aged 17 and 18 during the crimes committed in 2018 and 2019, utilized phishing websites to reroute online logins to a fake platform, enabling him to breach accounts.
Gunton admitted guilt to charges of conspiracy to commit fraud and money laundering outside the UK. Judge Alice Robinson of Norwich Crown Court described the crimes as “highly sophisticated offenses involving extensive planning and technical proficiency.”
Following a previous 20-month prison term in 2019 for the theft of TalkTalk customer data, Gunton avoided further imprisonment by fulfilling a 12-month rehabilitation order. He was also instructed to reimburse $524,700 after hacking into prominent Instagram accounts.
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US Court Orders Crypto Scammers to Compensate $31 Million
A federal court in the US directed Abner Alejandro Tinoco and his company Kikit and Mess Investments to pay over $31 million for operating deceitful cryptocurrency and foreign exchange schemes.
The court mandated Tinoco and his company to disburse $6.2 million in damages, $6.2 million in disgorgement, and $18.8 million in civil penalties to almost 200 victims.
The fraudulent activities persisted from September 2020 until the intervention of the Commodity Futures Trading Commission nearly a year later.
*This does not constitute investment advice.
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