Law and Legislation, Top Stories

100,000 Ripple [XRP] Theft Case : Email Encryption Is Must.

The anonymous women is alleged to have illegally transferred 100,000 Ripple [XRP] earlier in the month of Jan., from a digital wallet owned by a 56-year-old man, in line with a report by ZDNet. She was in caught by the police following a raid at her home after a 10-month long investigation.

Following the hacking of his email account, the victim had reportedly become fastened out of his crypto wallet for 2 days. once he managed to regain access, he found the Ripple [XRP] was gone.

Another report by News firm Australia alleges that the women transferred the XRP units “into a crypto exchange primarily based in China, that was later converted into bitcoin.”

At the time of the thieving, Ripple [XRP] was trading at a price around $3.50 USD. Because of the sharp fall in worth since then, XRP is price around $0.45 USD at press reporting time, making this price of the stolen funds simply over $45,500 USD.

News firm quotes Detective Superintendent Arthur Katsogiannis, crime Squad Commander, New South Wales Police Force, stating:

“An email account is a lot more valuable than individuals ever realises – scammers are more and more targeting emails as they link the individual to monetary accounts and alternative personal data.”

Katsogiannis additionally stressed that email accounts containing personal and monetary info ought to have a “minimum of two-factor authentication.”

News firm further adds that the women has been granted conditional bail and would be appearing at a local court on 19th Nov. this year.

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