London police have seized half a million pounds ($667,000) worth of bitcoin from a prolific computer hacker in a case described as the first of its kind for the 188-year-old department.
Cybercrime detectives seized the bitcoin from Grant West, 26, who was sentenced to 10 years and 8 months in prison Friday for attacking some 100 companies worldwide, largely using ‘phishing’ email scams to obtain the financial data.
Once he obtained the data, West would then sell the material to market places on the dark web and convert his profits into bitcoin.
The London Metropolitan police discovered evidence of cyberattacks on 17 major firms including Sainsbury’s, Asda, the British Cardiovascular Society and the Finnish bitcoin exchange.
Officers also recovered a memory card containing approximately 78 million individual usernames and passwords.
Also Read
-
Safer than Bitcoin? New digital currency to be launched by Saudi, UAE
The Saudi Arabian Monetary Authority (SAMA) has selected a consultant to work with the central banks of Saudi Arabia and the United Arab Emirates, for ... Economy -
Bitcoin declared halal by Indonesian Islamic scholar
A recent study conducted by an Islamic scholar at Blossom Finance in Indonesia has claimed that the Bitcoin cryptocurrency is permissible under ... Technology -
Bitcoin exchange reaches deal with Barclays for UK transactions
One of the biggest bitcoin exchanges has struck a rare deal which will allow it to open a bank account with Britain’s Barclays, making it easier ... Technology -
WATCH: Quebec wary of Bitcoin craze
At a former cocoa factory in Canada's Quebec province, tiny holes punctured in the walls allow fresh outside air in to cool the thousands of whirring ... Technology -
Thomson Reuters launches bitcoin sentiment gauge for crypto traders
Thomson Reuters Corp is to track and analyze chatter about bitcoin on hundreds of news and social media websites to help investors looking for an edge ... Economy
