Bitcoin’s rise turns 2017 theft into multimillion-pound scandal for UK officer

British authorities person charged National Crime Agency (NCA) serviceman Paul Chowles with aggregate offenses related to the alleged theft of 50 Bitcoin successful 2017.

At the clip of the alleged theft successful 2017, the Bitcoins were valued astatine astir £60,000 (equivalent to $77,400).

However, with Bitcoin’s surge successful worth implicit the years, the assets’ worth has importantly accrued and is present worthy astir £3.2 cardinal (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, said:

“Mr Chowles, 42, is owed to beryllium charged with 11 offences of concealing, disguising, oregon converting transgression property, 3 offences of acquiring, utilizing oregon possessing converting transgression spot and a azygous number of theft.”

Chowles is expected to look earlier Liverpool Magistrates’ Court connected April 25.

The CPS emphasized that transgression proceedings are progressive and that Chowles is entitled to a just trial. It besides warned against online discussions oregon reports that could power the ineligible process.

The CPS Special Crime Division handles immoderate of England and Wales’s astir analyzable and delicate cases, including superior allegations against constabulary officers, firm manslaughter, and election-related offenses.

NCA’s relation successful warring crypto crimes

As the UK’s starring bureau for tackling superior and organized crime, the NCA focuses connected combating threats specified arsenic cybercrime and fiscal fraud astatine nationalist and planetary levels.

Last year, it was granted powers to seize, freeze, and destruct cryptocurrencies utilized for transgression activities.

The bureau flexed this authorization successful December 2024 erstwhile it spearheaded an planetary cognition targeting Russian wealth laundering networks progressive successful organized transgression crossed aggregate regions, including the UK, the Middle East, Russia, and South America.

The operation, known arsenic Operation Destabilise, led to the arrests of 84 individuals linked to 2 Russian-speaking transgression syndicates, Smart and TGR.

It besides led to the seizure of £20 cardinal ($25.4 million) successful currency and crypto.

The station Bitcoin’s emergence turns 2017 theft into multimillion-pound ungraded for UK officer appeared archetypal connected CryptoSlate.