2 Years in Prison for $380K XRP Theft

By Abhimanyu Krishnan | News | 11 Aug 2020


Local media outlets reported on August 11 that a 25 year Australian woman had been arrested and sentenced for stealing 100,000 XRP tokens. 

  • Kathryn Nguyen stole 100k XRP tokens from a 56 year old man’s account in January 2018
  • At the time, the sum totaled to just under $400,000; authorities have only been able to recover about $9,000
  • Nguyen replaced the two factor authentication number to her mobile number
  • She then transferred the tokens to an international exchange and moved the tokens between wallets
  • Pleading guilty in August 2019, Nguyen has been sentenced to 2 years and 3 months in prison, and is eligible for parole in October 2021
  • She becomes one of the first people in Australia to be sentenced for cryptocurrency theft

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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