Crime officer in the United Kingdom to steal 50 Bitcoin currencies of 4.4 million pounds during the investigation of the Silk Road star-news.press/wp
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A former officer in the National Crime Agency was sentenced to five and a half years in prison to steal 50 Bitcoin currencies of 4.4 million pounds ($ 5.9 million) of the evidence that was seized during an investigation on the Silk Road, using cryptocurrencies for money laundering through multiple transactions over a period of four years.
Paul Chuels, 42, was part of the NCA team, which is achieved in organized criminal networks on the Dark Web Marketplace Silk Road, Silk Road 2.0.
How he managed to reach the money in the first place
According to a report From CPS, Chowles led the analysis and extraction of the encoded currency from the seized devices from Thomas White, co -founder of Silk Road 2.0, who was sentenced to 64 months in prison in April 2019.
Between 6 and 7 May 2017, Chowles 50 from 97 Bitcoins transferred from “retirement portfolio” from White to general addresses in two transactions.
The stolen cryptocurrency is then treated with Bitcoin fog, a notorious mixing service used to wash criminal returns and mysterious transactions paths.
The officer converted bitcoin into a pounds and spent the money using Cryptopay and Wirex cards over the course of several years.
He made 279 transactions totaling 23,309 pounds sterling with the Cryptopay card and spending 79,885 pounds through the Wirex account between August 2021 and JULY 2022.
At the Liverpool Crown Court, Chuls admitted that he was guilty of theft, the transfer of criminal property, and the concealment of criminal property.
The coronary prosecution service calculated that he benefited financially at a value of 613,147 pounds through its criminal activities, although the stolen bitcoin was worth 59409 pounds only at the time of theft.
The co -founder of Silk Road displays the internal theft
The theft remained discovered for years, as the NCA investigation team at first assumed that White had somehow arrived in its wallet and removed Bitcoin himself.
By late 2021, the missing cryptocurrency was considered uncomfortable by the authorities.
White, who was convicted and faced the proceeds of the crime law, noticed an expatriate order of 1560,506 pounds, unauthorized transport and informing the police.
He stated that only a person inside NCA could have reached the encrypted currency portfolio because he possessed the special keys.
The remaining NCA 47 Bitcoins sold to achieve part of the White confiscation order, leaving 1066,956 pounds sterling.
Mercyside police assumed responsibility for the egg administration in the local area after his release in early 2022 after the completion of the custody penalty.
During a meeting between the Mercyside police and NCA counterparts to discuss the white investigation, the officers learned of the stolen bitcoin.
Chowles attended this meeting, where the theft was publicly discussed among the law enforcement employees.
Mercyside police launched an investigation into the lost cryptocurrency and arrested Chuwailis in May 2022.
The officers regained the iPhone linking it to the accounts used in bitcoin transport operations, as well as the search record in the browser related to the encrypted currency exchange services.
Evidence guide reveals the methodology of the methodological currency methodology
Police discovered many laptops at the Chowles office that contains user names, passwords and data related to White’s Cryptocurrency.
The notebooks provided decisive evidence that it reached the seized digital assets and the methodology method.
It is worth noting that Blockchain Chainalysis also With help In tracking the movement of funds through various stock exchanges and mixing services.
The company’s tools have identified how to convert parts of stolen bitcoin into cash on stock exchanges and download them to the cards supported by encryption for ease of spending.
The timing of the theft coincides with the broader scrutiny in government bitcoin sales and seizures.
The US Department of Justice obtained approval in December 2024 to sell 69,370 Bitcoin, at a value of approximately $ 6.5 billion, seized by Silk Road.
However, President Trump’s administration suggested establishing a strategic bitcoin reserves instead of liquidating seized assets.
Ross Olbricht, founder of the original silk road, received a full presidential pardon in January 2025 after spending more than a decade.
His case has become one of the most prominent prosecutions in the history of the cryptocurrency, as it processed more than 1.5 million transactions worth $ 213 million in Bitcoin.
The prosecution service in the Crown Prince indicated that it will follow the confiscation measures against Chowles to restore the remaining financial benefit from its criminal activities.
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2025-07-17 09:03:00
