An Australian woman has been apprehended by the New South Wales police for being connected to a cryptocurrency cyber theft worth $450,000 in Ripple XRP tokens. The 23-year-old woman was taken into police custody for a cyber theft that is reported to have happened in January of this year.
A cryptocurrency owner reported to the New South Wales in January 2018 that his email had been hacked by in the previous month. After the victim regained access to his email account he noticed that a huge amount of 100,000 Ripple XRP tokens, the equivalent of $450000, had also been stolen from his cryptocurrency wallet. Thus, it’s safe to say the email account was used by the hackers somehow to access the owner’s cryptocurrency wallet/account and ransack it, leaving him with barely anything to keep for himself.
After the report the police began investigations into the matter, and eventually had its task force go to Epping and armed with an arrest warrant and to take in the now arrested Australian national. The police are accusing the arrested of having connived with others to illegally gain access to the victim’s email account, altering the password and verification code, and eventually breaking into the victim’s cryptocurrency e-wallet to make do of his XRP tokens by moving them into a cryptocurrency exchanger located in China.
The suspect has been granted bail he police however and will appeal before court on the 19th of November 2018. The state police’s cybercrime division is now advising people to be very much careful when dealing with emails as any private information in there could be detrimental in the wrong hands.
This incident is not the first ever of cryptocurrency cyber thefts recorded. As Coinstaker reported in an earlier story some $1 billion have been stolen in cryptocurrency cyber thefts so far and it doesn’t look like numbers will be reducing any time soon. This is also one of the very reasons why most countries are reluctant to allow cryptocurrency transactions within their borders. What is surprising is the fact that the state’s security agencies are involved in the prosecution of someone being accused of cryptocurrency cyber thefts. What this indicates at least is the fact that despite cryptocurrencies not being regarded as legal for trading, they haven’t been declared as illegal either – kind of sitting in the gray area in between the two – thus, the police can still be involved in such an act as they will be helping bring down a criminal act.
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