A judge has sentenced Australian citizen Kathryn Nguyen to a maximum of 2 years and 3 months in prison for her role. in the theft of more than 100,000 XRP tokens in January 2018.
According to an August 11 report in the Australian publication Information Age, Nguyen was convicted of stealing more than $ 300,000 from XRP two years ago. She was initially charged in October 2018 and pleaded guilty the following August.
Chris Craigie, the judge who directed Nguyen’s case, said that It was a “difficult and worrying decision” to send her to prison. According to reports The Australian citizen is available for parole in October 2021.
First Australian case of crypto fraud
Nguyen was one of the first to be charged with crypto theft in Australia.
According to reports In January 2018, she hacked the email of a 56-year-old man with the same last name as her and stole all of his XRP holdings before giving up control of the account two days later. This was at a time when the crypto asset was close to its all-time high of $ 3.84.
According to reports Nguyen transferred the XRP to a Chinese crypto exchange, where he exchanged the tokens for Bitcoin (BTC) and sent them to several wallets, possibly to launder the money.. According to the local news agency 7News Sydney, the Chinese authorities could only recovered around USD 9,000.
XRP falls out of favor
XRP’s value has fallen to $ 0.30 at press timeWith that, the amount of stolen cryptocurrency is now worth approximately $ 30,000.