Crypto hackers and scams have been making headlines recently, as they have been able to breach into systems that have been praising their increased anonymity and privacy. London’s police officers have recently arrested a hacker who managed to get hold of $667,000 worth of Bitcoin. What will be done with the Bitcoins itself is yet to be disclosed.
It is widely known that hackers have been keeping an eye on Bitcoin, as its supposed “anonymity” aspect can be considered flawed. In addition, its privacy is not on par as advertised, which gives such hackers increased opportunities.
A hacker that goes by the name of Grant West has been successful in attacking over dozens of companies by simply using phishing scams. West then captures personal and monetary data and sells it in the “dark web markets” in exchange for Bitcoin.
The London Metropolitan Police have managed to trace back 17 cyber-attacks to West, which were all done to well-known UK-based enterprises.
Upon entering West’s apartment, police officers found a memory card where he saved over 78 million usernames and passwords! As per released information, the origin of the data is yet to be verified. The same can be said about the dark web markets.
Since this is first-ever case that the London Police has had to deal with, what will be done with the criminal, as well as the $667,000 worth of Bitcoin needs will be their main effort. According to the claims made, the Bitcoins might be auctioned off to the highest bidder.
While hackers are more open into acquiring Bitcoin due to its lack of privacy and anonymity, this might be a lesson for them, as the same reasons why one might choose to hack might also end up being a danger!