French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for being sacked
A group of friends started an IT company in 2013 and for a few years all was going smoothly, with profits steadily growing. However, a major rift then broke out among its leadership, which ended with one of the co-founders being shown the door.
The man went to look for a new job outside France, but he didn’t forget the wrong done to him by his former associates. That’s how a businessman became a hacker.
An investigation established that between December 2018 and January 2019, he used remote transactions to snatch 182 units of bitcoin, which is around €1.1 million ($1.2 million), from the company’s accounts.
Having the inside-out knowledge of how the firm operates, the man never exceeded the withdrawal limit that automatically triggers an alarm.
But eventually the company found out that the money was gone and went straight to the police. After a few months, the tech-savvy investigators were able to track the digital wallet where the stolen bitcoins were kept and establish its owner.Also on rt.com US cryptocurrency expert arrested for ‘aiding adversary & sanctions violation’ over North Korea trip
The suspect was back in France at this point, it’s unclear if he was so certain that he had gotten away with his crime or just feeling too homesick.
But it was his big mistake as the entrepreneur was detained a week ago in the Calvados Department. The area in northern France known for its posh resorts and the eponymous alcoholic drink seemed like a perfect place to spend the money, but it won’t be the case now.
The man who admitted to authorities that he acted out of revenge was charged with theft, money laundering as well as illegal access and meddling with an automatic data
The local judge put him under travel restrictions pending trial, but the prosecutor’s office in Paris is pushing for this to be replaced with detention.Also on rt.com 'Tell your dad to give us bitcoin’: College student steals $5mn in crypto by hijacking phones
Think your friends would be interested? Share this story!