Alleged hacker indicted for stealing $1.75M in cryptocurrencies

Hacks • July 18, 2019, 2:25AM EDT
UPDATED: July 18, 2019, 10:39AM EDT
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A 31-year-old man has been formally charged in a Tel Aviv District Court indictment over suspected stealing of 6.1 million Israeli new shekels (~ $1.75 million) in cryptocurrencies.

Globes reported the news on Thursday, stating that the man, Eliyahu Gigi, stole bitcoin (BTC), ether (ETH) and dash (DASH) cryptocurrencies from foreign citizens, including Belgians, Dutch and Germans.

Gigi allegedly ran a criminal enterprise and distributed software to the public through websites that penetrated victims’ computers to steal cryptocurrencies, according to the indictment.

He reportedly transferred the stolen cryptocurrencies between various wallets, split them and then converted into different types of cryptocurrencies.

Gigi is charged for offenses under theft, fraud, money laundering, among others, as well as for offenses under the Income Tax Ordinance, according to the report.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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