Girl Facing Jail for Stealing 100,000 XRP
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Answer Girl Facing Jail for Stealing 100,000 XRP
An Australian girl admitted to having stolen over 100,000 XRP coins, which was worth an estimated A$450,000 at the time.
Catherine Nguyen admitted that in January 2018, she hacked an account on one of the trading platforms of a 56-year-old man with the same last name as the girl.
She hacked the account, transferred the funds to a cryptocurrency exchange in China, and sold all XRP for Bitcoin.
The victim noticed that XRP disappeared from his account two days after the hack.
Catherine, 24, pleaded guilty on August 23 and hid her face from reporters as she left the courtroom.
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Australia’s cybercrime leader told reporters: “It’s a very significant crime and it’s the first we’re seeing in Australia where someone is arrested and charged with stealing cryptocurrency.”
It is worth noting that the stolen XRP was worth A$450,000 at the time of the crime, but the price of Ripple has fallen by more than 90 percent since January 2018.
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