British Hacker convicted for Stealing $600,000 in Bitcoin

A UK hacker was prisoned for 10 years and 8 months for selling 63,000 stolen credit and debit cards on the dark web: $600,000 in Bitcoin was seized by Police
28 May 2018   540

Grant West, a 26-year old computer hacker from Kent (United Kingdom), was described as a “one man cybercrime wave” for having stolen the personal data of approximately 165,000 people via “phishing” scheme. The prosecution affirmed that he profited over £180,000 (about $240,000) from the scam and converted the proceeds into Bitcoin, which would then be kept in multiple accounts.

West is supposed to send emails looking like to be from Just Eat, an online food order and delivery service, to extract credit and debit card details from his victims. He was adjudged to more than 10 years in prison after accepting the charges, which included conspiracy to commit fraud, computer misuse, and drug offences. Judge Michael Gledhill presided over the trial.

Masquerading as Just Eat, Grant West suggested a voucher in recovery for answering questions between July 2015 and December 2015. The phishing scam cost the firm over £200,000 (approximately $267,000), but there is no evidence their servers were hacked by West. Other high profile hack victims include British Airways, Barclays, Sainsbury’s, Asda, Uber, Argos, Coral.

The Police seized £25,000 (about $33,000) in cash and £500,000 (about $666,000) in Bitcoin. Judge Michael Gledhill declared £1.6 million (approximately $2.3 million) worth of cryptocurrency is not accounted for. 

When such inadequate security is confronted with a criminal of your skills and ambition it is totally unfit for purpose and worthless. This case should be a wake-up call to customers, companies and the computer industry to the very real threat of cybercrime.
Michael Gledhill
Judge, UK

The hacker once had a number of client`s details, he would then sell them on Alpha Bay, an online dark web market 10-times larger than Silk Road which was taken down by the officials in July 2017.

Crypto Billionaire to Lost 5.5k BTC Due to Fraud

Thai scammers convinced 22 yo Finnish crypto billionaire to invest in their 'investment' scheme
13 August 2018   265

The 22-year-old cryptocurrency millionaire lost more than 5,500 bitcoins after taking part in the investment scheme in Thailand. The case attracted public attention because of the possible participation of a Thai actor. This is reported by Bangkok Post.

A group of scammers in June 2017 persuaded Finnish businessman Aarni Otawa Saarimaa to invest in several Thai securities, a casino in Macau and a crypto currency called Dragon Coin.

Scammers claimed that Dragon Coin could be used in Macau casinos. In addition, they brought Saarimaa to this casino to demonstrate the legitimacy of their project. Saarimaa transferred 5 564 BTC to fraudsters.

In January, without receiving any income for his investments, Saarimaa filed a complaint with the Crime Suppression Division's (CSD), along with his local business partner, who believed that this investment scheme was fraudulent.

CSD began to investigate the case and stated that the group made no investment for Saarimaa, instead transferring all the bitcoins to Thai baht and placing these funds on seven bank accounts.

Although it is not clear when exactly the scammers sold the bitcoins, CSD announced that they raised about 800 million baht or about 24 million dollars.

Then followed a months-long investigation, according to which CSD began to suspect that the Thai film actor Jiratkisit "Boom" Jaravijit also took part in the fraudulent scheme - he was arrested last Wednesday.

In addition, the CSD stated that it suspects the actor's brother, Princess Jaravijit, as the "instigator" of this entire scheme. He left Thailand, traveling to South Korea, and then to the United States. According to the Bangkok Post, CSD is currently working with the US to track him down.