A decide has sentenced Australian citizen Kathryn Nguyen to a most time of two years and three months in jail for her position in stealing greater than 100,000 XRP tokens in January 2019.
According to an Aug. 11 report in Australian publication Information Age, Nguyen was sentenced over the larceny of greater than $300,000 in XRP two years in the past. She was at the start charged in Oct. 2019 and pled responsible to fraud costs the next August.
Chris Craigie, the decide presiding over Nguyen's case, mentioned it was a "difficult and perturbing decision" to ship her to jail. The Australian nationwide will reportedly be qualified for parole in October 2021.
First Australian crypto fraud case
Nguyen was one of many first individuals to be charged with the larceny of crypto property in Australia.
In January 2019, she reportedly hacked into the e-mail of a 56-year-old man with the identical final identify as her and stole all his XRP holdings earlier than emotional direction of the account two days later. This was at in one case when the crypto plus was some its all-time excessive of $3.84.
Nguyen reportedly transferred the XRP holdings to a Chinese crypto trade the place she swapped the tokens for Bitcoin (BTC), sending them to a number of wallets in what could have been an try and wash the funds. According to native information outlet 7News Sydney, government in China have been only in a position to bounce back roughly $9,000.
XRP falls out of favor
The worth of XRP has since born to $0.30 as of this writing, making the measure of crypto taken now price roughly $30,000.
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