Australia has become one of the most developed and accepted countries in Bitcoin and cryptocurrencies. The world’s first cryptocurrency crime took place in Australia. Catherine Nguyen, a Sydney woman, became the first Australian citizen to be held in charge and incriminating for cryptocurrency and Ripple fraud.
Hacker stole 100,000 XRP with a simple trick
Catherine Nguyen was accused in 2018 of stealing 100,000 XRP for the purely opportunistic crime. He did this by hacking into the email account of a 56-year-old man who shared his last name. Catherine Nguyen had access to the account for two days, and the cryptocurrency market was a record high in the days when it stole all ripple assets. XRP tokens were worth $450,000 when he committed the crime, and when his crime came to life, their value dropped to $64,000.
This big drop is due to the continued decline in the cost of the XRP. This year, prices have fallen further, and the stolen XRP now costs $39,900. The cybercrime department launched an investigation in January 2018, and as a result, nearly 10 months were spent tracking and tracking digital currencies. The house of Catherine Nguyen was raided in October last year, and police seized her computer, hard drives, mobile phones, and other documents. Police also proved that Catherine Nguyen converted XRP into Bitcoin and sent it to several e-wallets.
Aren’t Ripple and cryptocurrencies safe anymore?
A detective from this team said this could be the beginning of a series of cybercrime, especially when people were trying to invest more in cryptocurrencies, and fraud activity began to increase. An individual must securely store his or her personal information. In addition to stock exchanges, users should also choose 2-factor authentication to provide greater security for user data.