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Cryptocurrencies have been around for more than a decade. In the beginning, these digital assets attracted the attention of IT professionals for the most part. The people who were taking an interest in crypto belonged to these fields. On the other hand, those who wanted to steal these stashes were also elaborate planners and scammers. In the same fashion, a scammer with extensive knowledge was arrested by the German police some time ago.
The scammers whose name is to remain anonymous for legal reasons are now out of jail after serving their sentence. According to police reports, the scammers were approaching victims personally to spike their gadgets and computers with malware. When he started, the value of Bitcoin was less than 25% of the current price level.
The court found the man guilty for covertly installing mining equipment and software in the PCs of the victims. The people who thought that he was helpful would let their guard down and allow the scammer to access their personal information. He was also posing as an expert who was able to offer repair services.
Two years ago, not many people were aware of cryptocurrencies and mining. The scammer added secret mining tools and programs through malware. The people who were looking to solve their issues could not understand that why their PC was lagging. In this manner, he was able to mine a lot of cryptocurrencies and Bitcoin in a personal digital wallet.
Breaking into a digital wallet is not an easy task by any means. The Police of Germany wanted to compensate the victims of the crime and send the remaining money into the custody of the government. When the crypto mining scammers were caught, the court also took away the assets, including the digital wallet with profits made from the fraud.
However, in two years, the criminal has remained tight-lipped. He refused to open up about the password. The police department estimates that during his jail time, Bitcoin went through a boom phase. It has become impossible to gain access to the private key of the said digital wallet, whose contents are valued at $60 million presently. The scammers who exploit the vulnerability of their victims have learned never to give away their private keys and keep unwanted invasions away.