Charged NCA officer with alleged Bitcoin theft
- British authorities have charged National Crime Agency (NCA) officer Paul Chowles with multiple offenses related to the alleged theft of 50 Bitcoin in 2017.
- At the time of the alleged theft in 2017, the Bitcoins were valued at approximately £60,000 (equivalent to $77,400).
- However, with Bitcoin’s surge in value over the years, the assets’ value has significantly increased and is now worth around £3.2 million (more than $4 million).
The case
- On March 13, the Crown Prosecution Service (CPS) confirmed that Merseyside Police had been authorized to proceed with the case.
- Malcolm McHaffie, Head of the Crown Prosecution Service Special Crime Division, stated that Mr. Chowles is due to be charged with 11 offenses of concealing, disguising, or converting criminal property, three offenses of acquiring, using or possessing converting criminal property, and a single count of theft.
- Chowles is expected to appear before Liverpool Magistrates’ Court on April 25.
NCA’s role in fighting crypto crimes
- As the UK’s leading agency for tackling serious and organized crime, the NCA focuses on combating threats such as cybercrime and financial fraud at national and international levels.
- Last year, it was granted powers to seize, freeze, and destroy cryptocurrencies used for criminal activities.
- The agency spearheaded an international operation targeting Russian money laundering networks involved in organized crime across multiple regions, resulting in the arrests of 84 individuals and the seizure of £20 million ($25.4 million) in cash and crypto.
