RATE Group | French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for…
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French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for…

29 Dec French entrepreneur steals €1.1 million worth of bitcoin from former firm in revenge for…

Posted at 21:25h in Bitcoin News by

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While stealing bitcoin is a new crime, the story behind one of the largest cryptocurrency thefts in the history of France is as old as the world – friends grow apart and one takes revenge for being wronged.

A group of friends started an IT company in 2013 and for a few years all was going smoothly, with profits steadily growing. However, a major rift then broke out among its leadership, which ended with one of the co-founders being shown the door.     

The man went to look for a new job outside France, but he didn’t forget the wrong done to him by his former associates. That’s how a businessman became a hacker.

An investigation established that between December 2018 and January 2019, he used remote transactions to snatch 182 units of bitcoin, which is around €1.1 million ($1.2 million), from the company’s accounts.   

Having the inside-out knowledge of how the firm operates, the man never exceeded the withdrawal limit that automatically triggers an…

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