Female hacker from Australia Katherine Nguyen is the first-ever resident in the country to plead guilty for cryptocurrency fraud after stealing more than 100,000 XRP so we find out more about it in the latest cryptocurrency news below.
Back in 2018, the twenty-four-year-old Nguyen stole email accounts of an elderly man who had the same last name for two days before handing back the access. It is still unclear whether XRP was held but it only took two days for the female hacker to drain the account of all funds. The detectives conducted a ten-month investigation following the trail of the digital crumbs all to way to multiple Chinese exchanges. The cryptocurrency scams are a common occurrence these days and their pervasiveness has spiked flames over the safety and legitimacy of digital currencies as an alternative form of money. As Nguyen was leaving the court, the 7News Correspondent Evan Batten asked her:
“Did you think you were going to get away with it because it just wasn’t real money?”
Last year, the Sydney Morning Herald reported that the theft was the first of its kind in Australia and the detective from the New South Wales Cybercrime unit Arthur Katsogiannis explained:
“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.”
This case suggests that the Australian authorities are considering cryptocurrency as a major store of value. The 7News tweets reported that the female hacker could fetch a huge sum of more than $450,000 AUD for his XRP. Ripple has since dropped and left the net value of the holdings at a low of $26,700 USD. XRP is now trying to approach long-term support near the $0.25 area and if it holds its own and price resumes the current upward trend, the holdings could be worth more than they were pinched. The officials have given no further word on what will happen to Nguyen and how she will compensate for the loss of the elderly man’s funds. The court will sentence her in October as she is facing jail time as per the reports in the altcoin news.
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