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UK Hacker Steals 11 Million Dollars In IOTA Cryptocurrency

UK Hacker Steals 11 Million Dollars In IOTA Cryptocurrency

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As a result of international cooperation, European police organized an investigation and arrested a hacker, who is suspected of stealing the IOTA cryptocurrency for more than $11 million. The respective announcement was published on the Europol website.

The investigation was conducted by one of the UK police departments, the police of the German State of Hessen, the British National Crime Agency, and Europol.

The alleged 36-year-old criminal was arrested in Oxford after a search was conducted, during which several electronic devices were seized. Apart from the theft, the hacker is charged with fraud and money laundering.

The police operation was launched after the theft of IOTA worth over $11 million from more than 85 victims since January 2018. Applications from victims regarding the theft of assets from crypto wallets were received by the Hessen police department.

It is assumed that the accused placed the virus file on iotaseed.io, with the help of which he was able to control the keys of the users and withdraw the IOTA cryptocurrency from their accounts. In July 2018, the German police tracked down the hacker and determined that he was using malicious equipment being in the UK.

The first month of 2019 has already been marked by several cases of crypto fraud. Earlier, it was reported that the intruder organized a 51% attack on the Ethereum Classic network and stole $200,000 from Gate.io clients, although he returned half of this amount a few days later. Moreover, the South African national cricket team fell victim to crypto fraud.

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