Australian woman has been sentenced to over 2 years imprisonment for a theft case of Ripple [XRP], held earlier in January 2018.
In line with a recent report by the native reporting media outlet, Information Age, a 25-year-old Kathryn Nguyen was sentenced to 2 years and three months by Judge Chris Craigie for hacking a victim’s wallet and making off with over 100k units of XRP.
Nguyen and an associate infiltrated a 56-year-old man’s cryptocurrency account by swapping his 2-FA authentication with her own mobile.
She later transferred the stolen XRP to an anonymous exchange where she traded the stolen assets for bitcoin before being distributed across multiple wallets.
The funds are now worth slightly beneath $30,000 USD, but were reportedly exchanged at the cryptocurrency’s peak in early 2018 when they were worth up to around $300k.
Judge Craigie said the crime was “out of character” for Nguyen and that her “moral judgment was distorted” at the time.
After an almost 12-month investigation, police raided Nguyen’s home pace in Epping, a suburb of Sydney, last year, seizing computers, mobile phones and money.
Detective Superintendent Matthew Craft said reporting of cybercrime was a national issue and not solely that of the state of New South Wales.
In line with native reporting media, Nguyen is among the first Australian to be charged over the theft of crypto assets.