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Australia scammer who stole $400,000 in XRP gets sentenced to 2 years in prison

 
Australia scammer who stole $400,000 in XRP gets sentenced to 2 years in prison
Breaking News / Ripple / XRPUSD
  • 100,000 tokens have allegedly been stolen by a 25-year-old Kathryn Nguyen from Sydney, Australia. 
  • The funny thing is, the tokens were stolen in January 2018 and has now been sentenced to 2 years in prison.

100,000 XRP tokens have allegedly been stolen by a 25-year-old Kathryn Nguyen from Sydney, Australia. The funny thing is, the tokens were stolen in January 2018 and has now been sentenced to 2 years in prison.

According to the report, Nguyen hacked a 56-year-olds cryptocurrency account and went on to swap the two-factor authentication into her own mobile phone. Following this swap, she transferred the tokens into a Chinese crypto platform and traded it into bitcoin. From here, she then transferred these coins into several addresses. Only $9000 has been recovered by Chinese authorities.

Looking back into the history books, the token was worth $4 each at the time which would’ve meant that the criminal stole around $400,000 in this singular hack.

The criminal was actually arrested in 2018 and seized her computer and money. At the end of that year, she was officially charged but pled guilty in August last year.

You may not have heard a lot about scams in Australia. This is because it is the first Cryptocurrency fraud case in the country. According to the judge, it was difficult to try the case and eventually send Nguyen to prison for two years and three months. It was found that her references described her as a generous and hard-working person which just made matters worse for the law.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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