A decide has sentenced Australian citizen Kathryn Nguyen to a most time of two years and three months in jail for her function in stealing greater
A decide has sentenced Australian citizen Kathryn Nguyen to a most time of two years and three months in jail for her function in stealing greater than 100,000 XRP tokens in January 2018.
In keeping with an Aug. 11 report in Australian publication Info Age, Nguyen was sentenced over the theft of greater than $300,000 in XRP two years in the past. She was initially charged in Oct. 2018 and pled responsible to fraud expenses the next August.
Chris Craigie, the decide presiding over Nguyen’s case, mentioned it was a “tough and troubling choice” to ship her to jail. The Australian nationwide will reportedly be eligible for parole in October 2021.
First Australian crypto fraud case
Nguyen was one of many first individuals to be charged with the theft of crypto property in Australia.
In January 2018, she reportedly hacked into the e-mail of a 56-year-old man with the identical final title as her and stole all his XRP holdings earlier than releasing management of the account two days later. This was at a time when the crypto asset was close to its all-time excessive of $3.84.
Nguyen reportedly transferred the XRP holdings to a Chinese language crypto trade the place she swapped the tokens for Bitcoin (BTC), sending them to a number of wallets in what could have been an try and launder the funds. In keeping with native information outlet 7News Sydney, authorities in China have been solely in a position to get well roughly $9,000.
XRP falls out of favor
The worth of XRP has since dropped to $0.30 as of this writing, making the quantity of crypto stolen now value roughly $30,000.