British hacker sentenced to ten years
A British hacker has been jailed for ten years after he was caught stealing $600k worth of Bitcoin.
26-year old Grant West was sentenced to 10 years and 8 months after he was convicted on multiple charges.
The British hacker was caught selling the details of 63,000 stolen credit cards on the dark web.
After his arrest, Police seized Bitcoin worth over $600,000.
One-man cybercrime wave
West, a computer hacker from Kent, United Kingdom, was described as a “one-man cybercrime wave” by prosecutors.
He is known to have stolen the personal data of approximately 165,000 victims using a “phishing” scheme.
The British hacker profited over £180,000 (approximately $240,000), according to the prosecution.
After obtaining funds from the scam, he was then converting his ill-gotten gains into Bitcoin and HODLing it.
West’s scam involved sending emails pretending to be from online food delivery service, Just Eat.
After tricking users, he would then extract credit and debit card information from his victims and sell the details.
After admitting charges, he was sentenced to more than ten years in prison.
The charges included computer misuse, conspiracy to commit fraud, and drug offenses.
The trial was presided over by Judge Michael Gledhill, who also issued West’s sentencing.
Cryptocurrencies are increasingly being used as a form of payment and a means of storing value by criminals.
Earlier this year, a Ukranian-Russian cybercriminal gang stolen up to €1 billion from banks in Spain.,
According to reports, the group was caught when they were converting the money into Bitcoin.
British hacker West was offering a voucher in return for answering questions, while masquerading as Just Eat between July 2015 and December 2015.
The online food service lost over £200,000 (approximately $267,000) as a result of the phishing scam.
However, according to the prosecution, there was no evidence that West had hacked their servers.