Hacker From Australia To Be Tried For Her Role In Stealing $450,000 XRP In 2018

Katherine Nguyen, an Australian has admitted her guilt of being complacent in stealing thousands of XRP tokens. The attack was carried out in January 2019 and a total of 100,000 XRP was stolen worth about $450,000.

Katherine is now looking at jail time. This was the first fraud of its type in Australia. She hijacked the account of a 56 yr old man with the same surname as her. he investigators were told by the alleged victim that he was locked out of his email account for two days in mid-January 2018, but he thinks that his email account may have gotten hacked in December 2017.

The man called the Police which was followed by over 10 months of investigation. The digital currency trail led back to China and finally the investigative unit was able to arrest Katherine and her parents. There is no word yet on compensation to her victim.

However, she has pled guilty to her accusations. There are still disputes that will e settled on a special hearing in October. However, until then, a pre-sentence order has been passed and it is pretty much confirmed that she is heading to jail.

Notably, a 190% increase in cryptocurrency scams saw Australian consumers lose $6.1 million Australian dollars ($4.3 million) in 2018. The substantial rise from the AU$2.1 lost in 2017 came despite an industry-wide slump in cryptocurrency prices. Most of the victims were targeted by investment scams where they are encouraged to purchase digital currencies or asked to make crypto payments for access to forex trading, commodity trading and other investment opportunities.

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