Home Technology Blockchain 21 year old gets 10 years for stealing cryptocurrency worth $7.5 million

21 year old gets 10 years for stealing cryptocurrency worth $7.5 million

Earlier this week a US citizen was the country’s first person sentenced for hacking into victim’s phone and stealing cryptocurrency. The 21-year-old has been sentenced to 10 years in jail.

Joel Ortiz stole from over 40 people cryptocurrency worth $7.5 million. On January 24th he pleaded guilty to 10 felony charges.

On Friday last week, Edward Lee a judge from Santa Clara County sentenced Ortiz after the victims of the cryptocurrency thefts shared their hearings to the judge.

Ortiz spent his money earned from the theft lavishly by spending $10,000 on nights out in Los Angeles clubs. He also rented a helicopter to take him and his friends to a music festival.

The public prosecutor Erin West stated that “These are crooks who use a computer instead of a gun[…..] They are not just stealing some ethereal, experimental currency.[…..]They are stealing college funds, home mortgages, people’s financial lives.”

The 21-year-old has been taken into custody last year at Los Angeles International Airport.

Joel is one of the 5 people who have been arrested by the REACT (Regional Enforcement Allied Computer Team) group. This group is law enforcement agents from the Bay Area who are working to solve the country’s high tech crime.

In May last year, he stole over $5.2 million in cryptocurrency from a Cupertino cryptocurrency businessman in just a few minutes.

The investigators managed to confiscate around $400,000 from Ortiz when he was arrested the rest of his money was spent or hidden from the investigators.

mm
Joel Picardo
Joel Picardo has been in the startup space for the last 5 years and has worked with startups in the cryptocurrency and digital marketing industry. He founded GeekyMint along with his co-founder SafdarAli with a mission to provide well-reseached articles in the cryptocurrency, finance, technology, blockchain, software, and startup sector

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an...

Top 13 best ThopTV alternatives for free streaming and Live TV (2021 updated list)

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Download Kissanime App Apk on Android, iOS, PC, Firestick, Roku (2021 Update)

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...

Top 13 best Mobdro alternatives to watch free live tv and movies

Modbro was one of the growing movies and live tv streaming sites with free unlimited content. Mobdro had its app on the...

Random Post

No new technology would be purchased by China’s Ant Financial

In the ongoing trade disputes that have recently aroused between the two largest economies across the entire globe, the latest development reveals news of a...

10 Working Torrent Clients for Mac in 2021

Torrents provide you with free files to download any content you are looking for. You have torrent links for anime, games, movies,...

Download Kissanime App Apk on Android, iOS, PC, Firestick, Roku (2021 Update)

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...

5 ways on How to fix Steam Content Servers Unreachable on windows PC

Steam is a game distribution where gamers from all over the world come and connect to the platform. Even though steam is the most...

Afdah: Download and watch movies for free

Afdah is a very popular name in the movie streaming industry. Afdah is a notorious website that is known to release pirated...