The U.K. law enforcement recently (at the beginning of this month) auctioned $240,000 in digital assets after impounding the money from a 19-years old hacker of TalkTalk and EtherDelta.
The Eastern Region Special Operations Unit (ERSOU) collaborated with the Wilson Auctions to sell the cryptocurrencies to higher bidders on the 2nd and 3rd of October, 2019. Besides, this auction of digital assets such as Bitcoin, Ripple, and Ethereum is considered as one of its kind.
Martin Peters, the chief inspector stated,
“Recovering assets in a digital era has evolved, so it’s essential to work alongside commercial partners, we conduct a transparent process for storing and selling digital assets.”
Martin added further,
“The Police department appointed an asset realization and management service provider to scrutinize the buyers according to the statement, “to ensure that the assets are not able to make their way back into crime.”
Background on the Hack
Elliot Gunton – a 19-year-old guy, hacked into Telecom Giant TalkTalk back in 2015. Ever since the U.K. police had eyes on Elliot’s daily online activity, and last year, police seized all his accounts and funds in a bust.
Furthermore, the U.K. police came to know amidst the investigation that Elliot was advertising the private information for sale. He stole the information from EtherDelta clients, which he was selling for $3,000 paid in cryptocurrency. Elliot’s illicit net worth at that time was valued at around $333,000.
Notably, a report shows that Elliot worked with Anthony Nashatka, a U.S. nationalist under the pseudonyms Psycho and Planet, during the entire conspiracy. The perpetrators operated together to steal digital assets from hundreds of EtherDelta accounts.
As shown in the indictment, Anthony Nashatka procured private information of EtherDelta’s CEO, Zachary Coburn, in December. 13, 2017. Both defendants then redirected Zachary Coburn’s email addresses and cellphone to an account under their command.
Subsequently, Elliot and Anthony gained unauthorized access to the Cloudflare of EtherDelta account with the help of that private information. To use EtherDelta, whenever a user logged in to his account, their wallets, private keys, and account credentials were observable to the perpetrators to withdraw funds. However, the amount of crypto theft is not yet specified, but one user lost almost $800,000.
Consequently, Anthony Nashatka is likely to face 20-years in prison sentence. Moreover, he is ordered to repay $250,000, and his last hearing is supposed to be held in San Francisco on October 10th (today).
And for Elliot Gunton, he was sentenced to 20-months in jail, and his last hearing was held at Norwich Crown Court a day after the UK establishment auctioned the digital assets. Reportedly, Elliot was pleaded guilty to several crimes, including conspiracy to pledge wire and computer fraud and severe identity theft. Besides, he was penalized with a $509,000 fine.
In fact, Elliot’s parents are scheduled to be brought to justice at Norwich Crown Court on Wednesday. They were recently pleaded guilty for transferring stolen property and attempting to transfer digital assets from an apprehended bitcoin wallet.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.