Hey ninjas, how’s the trading going? On the day, the crypto market is trading sideways with the majority of the top crypto’s reporting daily losses. At press time the largest cryptocurrency Bitcoin is down 1% and is trading at $7,207.
According to a news report by the local newspaper Le Parisien on the 28th or December 2019, a former French entrepreneur turned Bitcoin hacker has been arrested for stealing over 1 million euros in Bitcoin from his ex-colleagues.
The man's identity has yet to be revealed to the public, he has reportedly been indicted by a judge in Paris on charges of money laundering, theft and illegal use of data processing systems.
After a complaint was lodged, the Gendarmerie’s cybercrime division (C3N) used a number of months to reconstruct the thefts of the hacker. After months of investigating, a search warrant was issued for the hacker and he was eventually arrested on the 20th of December 2019 after he returned from Calvados to France.
Before his trial his computer and private keys were seized, a part of the stolen funds was also recovered and transferred to the AGRASC-the agency in charge of confiscated assets in the course of criminal proceedings.
The suspect is reportedly a former employee of a French tech startup company which began in 2013, he reportedly held an executive position in the firm but was fired over differences in strategy which the firm should take, he was one of several executives to be fired from the company which led to his career as a hacker.
At press time, the suspect is said to have stolen over 182 Bitcoin (over a million euros) and his motive for engaging in fraud is revenge against the company.