British Authorities Seize $1 Million In Cryptocurrencies From a Computer Hacker

Southwark Crown Court, judge Joanna Korner ruled that the state could confiscate 922,978.14 pounds ($1.13 million) worth of cryptocurrencies from Grant West, a computer hacker who was arrested for selling hacked data for cryptocurrencies.

The 27 years old computer hacker was sentenced in May last year to over 10 years in prison for charges from conspiracy to defraud and possession of criminal property to the possession of drugs.

The Metropolitan Police said West used phishing emails in attacks on more than 100 companies worldwide, stealing tens of thousands of customers’ financial details before selling the data on dark web marketplaces. He later converted the profits to cryptocurrencies.

The cryptocurrency seized at the time of West’s arrest in September 2017 was at the time worth 1.6 million pounds ($1.95 million).