Kathryn, an Australian woman, has been punished for twenty-seven months in jail for hacking the cryptocurrency account of a 56 years old man in 2018.
In collaboration with another person, Kathryn was able to alter the victims' authentication number to hers.
After altering the authentication number, she was able to move about $300,000 worth of XRP at that time to a China-based exchange where she changed the money to BTC and eventually transferred the bitcoins into various wallets.
The woman was later arrested in 2018 with her PC, phones, and cash seized by the police in Australia.
In August, last year, she was charged to court, and she pleaded guilty to the charges against her. The authorities retrieved just $9,000 in China.
During the time the crime happened, XRP coins sold for $2.83. However, the stolen coins are presently valued at $30,000 due to the decline in the cost of XRP to $0.30.
Kathryn is the first person in Australia to be accused and sentenced to for a crypto theft.
According to a report, Kathryn was investigated about a year after the victim complained his account had been compromised and couldn't access it.
But the police also stated that the rate of cybercrimes is low in the country.
Source: News.bitcoin
