Australian Woman Steals $450,000 of Ripple (XRP) | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
In a shocking turn of events that quickly turned into Australia’s first criminal investigation for the theft of cryptocurrency, Katherine Nguyen stole $450,000 worth of XRP by gaining access to the email ID of a man with the same surname as her. As per Micky, August 26, 2019, Ten months ago – when the crime occurred – she hastily converted it into BTC and transferred it to multiple addresses, helping her keep the value more or less intact.
Katherine Nguyen appeared in court, showing no remorse and even refusing to apologize to her victim. The crime occurred in January 2018 when XRP was trading near its all-time high of $3, making it all the worse to the victim.
If Nguyen had kept her holdings in XRP, it would’ve been worth a mere $39,000 today; luckily for her, she converted the stoled tokens into BTC immediately.
The detective in charge of the case opined that this kind of case is going to become the norm all over the world. Securing cryptocurrency cannot be done with the flick of the wrist. And while the process is not too troublesome, it is a little more hectic and requires users to invest some time reading about how to go about doing so.
He signed off by saying that personal information is a golden ticket for criminals to infiltrate your financial history and gain access to your bank accounts, cryptocurrency wallets, and other avenues used to hoard value.