18 C
Lahore
Sunday, February 28, 2021

Police seize $60 million of bitcoin from a fraudster | The Categorical Tribune

Must read

What occurred when #Pawri woman Dananeer Mobeen tried paan for the primary time?

Pakistani social media influencer Dananeer Mobeen. Picture: InstagramWell-known #PawriHoriHai woman Dananeer Mobeen eats paan for the primary time in life throughout Karachi go to.The influencer,...

Tourism will be largest supply of employment in Pakistan: PM Imran Khan

Prime Minister Imran Khan. Picture: Geo InformationPM Imran Khan says tourism will be the most important supply of employment in Pakistan.Says the world is fascinated...

No less than 18 killed in Myanmar on bloodiest day of protests towards army coup

Protesters take cowl as they conflict with riot law enforcement officials throughout a protest towards the army coup in Yangon, Myanmar, February 28, 2021....

PDM absolutely united for Senate elections 2021, says Fazlur Rehman

Pakistan Democratic Motion (PDM) chief Maulana Fazlur Rehman (R) and PPP Chairperson Bilawal Bhutto-Zardari (L) communicate to the media after a gathering between the...


FRANKFURT:

German prosecutors have confiscated greater than 50 million euros ($60 million) value of bitcoin from a fraudster. There’s just one downside: They will’t unlock the cash as a result of he received’t give them the password.

The person was sentenced to jail and has since served his time period, sustaining his silence all through whereas police made repeated failed efforts to crack the code to entry greater than 1,700 bitcoin, mentioned a prosecutor within the Bavarian city of Kempten.

Elon Musk is again on Twitter, turns his help to Dogecoin

“We asked him but he didn’t say,” prosecutor Sebastian Murer informed Reuters on Friday.

“Perhaps he doesn’t know.”

Bitcoin is saved on software program often called a digital pockets that’s secured via encryption. A password is used as a decryption key to open the pockets and entry the bitcoin. When a password is misplaced the person can’t open the pockets.

India to launch its personal cryptocurrency

The fraudster had been sentenced to greater than two years in jail for covertly putting in software program on different computer systems to harness their energy to “mine” or produce bitcoin.

When he went behind bars, his bitcoin stash would have been value a fraction of the present worth. The value of bitcoin has surged over the previous yr, hitting a file excessive of $42,000 in January. It was buying and selling at $37,577 on Friday, in accordance with cryptocurrency and blockchain web site Coindesk.

Prosecutors have ensured the person can’t entry the largesse, nonetheless.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

What occurred when #Pawri woman Dananeer Mobeen tried paan for the primary time?

Pakistani social media influencer Dananeer Mobeen. Picture: InstagramWell-known #PawriHoriHai woman Dananeer Mobeen eats paan for the primary time in life throughout Karachi go to.The influencer,...

Tourism will be largest supply of employment in Pakistan: PM Imran Khan

Prime Minister Imran Khan. Picture: Geo InformationPM Imran Khan says tourism will be the most important supply of employment in Pakistan.Says the world is fascinated...

No less than 18 killed in Myanmar on bloodiest day of protests towards army coup

Protesters take cowl as they conflict with riot law enforcement officials throughout a protest towards the army coup in Yangon, Myanmar, February 28, 2021....

PDM absolutely united for Senate elections 2021, says Fazlur Rehman

Pakistan Democratic Motion (PDM) chief Maulana Fazlur Rehman (R) and PPP Chairperson Bilawal Bhutto-Zardari (L) communicate to the media after a gathering between the...

PSL 2021: Watch as Shaheen Afridi clean-bowls Babar Azam

Lahore Qalandars' Shaheen Shah Afridi clean-bowls Karachi Kings' Babar Azam through the eleventh match of the PSL 2021 in Karachi, Pakistan, February 28, 2021....