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London police seize bitcoin worth $667,000 from hacker

London: The possible online threat turned reality on Friday when London police seized bitcoin worth 667,000 dollars from a hacker. The case was described as the first of its kind seizure.

Cybercrime detectives seized the bitcoin from Grant West, 26, who was sentenced to 10 years and 8 months in prison Friday for attacking some 100 companies worldwide, largely using ‘phishing’ email scams to obtain the financial data.

Once he obtained the data, West would then sell the material to marketplaces on the dark web and convert his profits into bitcoin.

The London Metropolitan police discovered evidence of cyber attacks on 17 major firms including Sainsbury’s, Asda, the British Cardiovascular Society and the Finnish bitcoin exchange.

Officers also recovered a memory card containing approximately 78 million individual usernames and passwords.

This article was first published on http://www.wakeuppost.com.

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