The Loudest and Boldest Crypto Crimes of All Times

The Loudest and Boldest Crypto Crimes of All Times

While the crypto industry provides a large surface for creators,companies and innovative technologies to develop and thrive on, it is also a good opportunity for scammers, hackers and thieves to get hold of big amounts of money or take down important sites.

Today we will discuss the people who managed to make it into the headlines of multiple news outlets due to their outrageous crimes.

1. Icelandic miners in China

This story seems unbelievable from the title. Basically, what happened is: a group of Icelanders stole a huge amount of mining equipment, including computers, video cards, CPU processors etc. The total cost of all the stolen things equaled to over 2 million dollars.

Some arrests were made, but a couple of criminals managed to escape to China where they unfolded their illegal mining activities. However, hapless miners did not take into account the fact that such intensive mining required a whole lot of electricity, and such an unusual level of electricity consumption drew attention of the Chinese police.

All the equipment was arrested, and at the moment the police from Iceland and China are negotiating on what to do with the criminals.

2. A young hacker from Cali

A couple of months ago, the American police took into custody a 20-year-old college student named Joel Ortiz. This young man managed to go things that people twice as old would never be able to do.

Ortiz hacked cell phones of over 40 different people using the technique called SIM-swapping. By doing so, he added over 5 million USD to his bank account.

Unfortunately (for him), this also brought him 28 charges in court and a not very bright future ahead.

3. An Indian government conspiracy

Here we come with a good old scam. But this one is no ordinary scam like the ones that appear on Twitter every once in a while. This scam involved the members of the ruling party of the Indian government and whopping $750 million.

According to an Indian Congressman, some of the people occupying the highest positions in the government were covering up a major scam involving Bitcoin. The whole scheme was so well-planned and complex, that it was pretty much impossible to solve this case.

The accused politicians obviously denied all the accusations, and both parties keep barking at each other until this day.

Here were three crypto crime cases, solved and unsolved, that stood out due to their unusual nature, amounts of money stolen and even brilliance of execution. Anyway, none of them really deserve admiration, because all of these criminals caused a lot of trouble. Hopefully, our today’s characters and all of their “colleagues” will be punished for what they did, and the crypto industry will become a bit cleaner.

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