đš COINBASE HACKER SENTENCED TO 42 MONTHS IN JAIL đ
A 24-year-old hacker, Elliott Gunton, has been sentenced to 42 months in jail by the Norwich Crown Court in the UK for his involvement in a significant Coinbase hack. Gunton, along with fellow hackers, accessed over 500 Coinbase accounts between 2018 and 2019, stealing more than $900,000. đž
According to court documents, the group obtained access to hundreds of Coinbase accounts by redirecting online log-ins to a fake website. They also exploited telecom companies by diverting phone calls with fabricated stories, allowing them to access private accounts. đ±đ»
đ° "Gunton previously stole the personal data of TalkTalk customers and hacked Instagram accounts," a reporter posted on X. The TalkTalk hack reportedly resulted in the loss of thousands of pounds in cryptocurrency. Additionally, Gunton was jailed for 20 months in 2019 and ordered to pay ÂŁ407,359 for hacking high-profile Instagram accounts. đ°
đ COURT'S VERDICT
Judge Alice Robinson described the offenses as "highly sophisticated" involving significant planning and technical expertise. She emphasized that Gunton's ultimate aim was to steal money, not just for the thrill of hacking. â Gunton pleaded guilty to conspiracy to commit fraud outside the UK and money laundering.
đ COINBASE TARGETED MULTIPLE TIMES
Coinbase has faced several hacking attempts in the past. In October 2021, hackers stole crypto from accounts of at least 6,000 Coinbase users, bypassing the exchangeâs two-factor authentication (2FA) system. Additionally, a customer lost $96,000 in a phone hack last year and sued Coinbase after being told the breach was his problem. đŠđ
Stay vigilant and secure your crypto assets. đĄđ
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