In the United Kingdom, two cybercriminals have been sentenced for stealing cryptocurrencies worth £5.7 million ($7.1 million) through a phishing site mimicking the exchange Blockchain.com, as reported by BBC.
Jake Lee and James Heppel created a counterfeit version of the original service, gaining access to victims’ assets. In total, 55 individuals from 26 countries were affected by their activities. At least one victim lost bitcoins valued at over £11,000 ($13,700).
The defendants pleaded guilty to three counts of conspiracy to commit fraud.
Lee received a four-year prison sentence, while Heppel was sentenced to 15 months.
Police seized cash amounting to £835,000 ($1 million), cryptocurrency valued at £64,000 ($79,800), three cars, and a 2003 Banksy artwork titled “Love Bomb” worth £60,000 ($74,800).
A confiscation order for nearly £1 million ($1.2 million) was issued against Lee, to be used for compensating the victims.
Previously, Lee voluntarily handed over a suitcase containing £551,000 (~$687,400) to law enforcement.
Earlier, ForkLog reported that an heir to the Cartier jewelry house was accused of laundering drug cartel money through USDT.