{"id":86869,"date":"2023-11-10T12:15:18","date_gmt":"2023-11-10T10:15:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86869"},"modified":"2025-09-13T08:11:06","modified_gmt":"2025-09-13T05:11:06","slug":"kraken-converts-2-million-in-cryptocurrency-to-reimburse-fraud-victims","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/kraken-converts-2-million-in-cryptocurrency-to-reimburse-fraud-victims\/","title":{"rendered":"Kraken converts $2 million in cryptocurrency to reimburse fraud victims."},"content":{"rendered":"<p>The Kraken exchange <a href=\"https:\/\/serocu.police.uk\/nearly-2-million-of-stolen-cryptocurrency-to-be-paid-back-to-victims\/\">\u043e\u043a\u0430\u0437\u0430\u043b\u0430 \u0441\u043e\u0434\u0435\u0439\u0441\u0442\u0432\u0438\u0435<\/a> British police in recovering cryptocurrency stolen from IOTA users in 2018.<\/p>\n<p>At the time, Dutch citizen Vibo Viersma created a malicious website to generate seed phrases used when creating an IOTA wallet. Because all secret keys were prearranged by the attacker, he gained access to users&#8217; balances and stole more than $4 million in cryptocurrency.<\/p>\n<p>As part of the investigation, officers from <span data-descr=\"Southeast Regional Organised Crime Squad\" class=\"old_tooltip\">SEROCU<\/span> confiscated about \u00a32.4 million ($2.9 million) in various digital assets.<\/p>\n<p>Part of this amount went to pay the fine imposed on Viersma in January 2023. He was also sentenced to four and a half years in prison.<\/p>\n<p>The remaining cryptocurrency, about \u00a31.9 million ($2.3 million), was distributed by authorities among the victims, who currently number between 50 and 60 people worldwide.<\/p>\n<p>To convert the digital assets into fiat, SEROCU enlisted the help of Kraken. The legality of handling the stolen assets was overseen by the UK Financial Conduct Authority.<\/p>\n<p>Earlier in October, the UK passed a bill that <a href=\"https:\/\/forklog.com\/en\/news\/britain-approves-bill-to-simplify-confiscation-of-crypto-assets\">simplifies confiscation<\/a> of crypto assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Kraken exchange assisted British police in recovering cryptocurrency stolen from IOTA users in 2018.<\/p>\n","protected":false},"author":1,"featured_media":86870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1153,44,193,810],"class_list":["post-86869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-confiscation","tag-cybercrime","tag-kraken","tag-united-kingdom"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86869"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86869\/revisions"}],"predecessor-version":[{"id":86871,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86869\/revisions\/86871"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86870"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}