UK Teen Hacker Jailed for near $1M Coinbase Phishing Scam.

British teen hacker Elliot Gunton, renowned for breaching over 500 accounts on Coinbase, has been condemned to 3.5 years in prison. The hacker planned and executed a phishing scam of such grand scale to cost the exchange's account holders almost $1 million in crypto assets between 2018 and 2019.

Among other schemes, it involved redirecting Coinbase users to a malicious website masquerading as a Coinbase login prompter page. The unwitting users would input their login credentials on this scam page, invariably giving the hackers access to their accounts and stored crypto assets.

Teen Hacker Age Ranged Between 17 and 18

Notably, Elliot Gunton was 17 and 18 years old when he committed these crimes. Hence, it is on record that he has a serial history of committing several cyber crimes, some of which made international headlines.

According to local media, "This is not the first time Gunton has bagged prison term. He made international headlines aged 16 when he stole the personal data of TalkTalk customers in exchange for hundreds of thousands of pounds in cryptocurrency. In 2019, he was jailed for 20 months and ordered to pay back £407,359 after hacking high-profile Instagram accounts," said the news outlet.

Court Proceedings

During the proceedings at Norwich Crown Court, the presiding judge, Alice Robinson, remarked on the sophistication and expertise Elliot and his accomplices must have mustered to execute the scam on the exchange spanning two years.

Elliot eventually pleaded guilty to money laundering judges and conspiring to commit fraud beyond the UK. Consequently, Judge Robinson served him three and a half years jail term.

Elliot’s story underscores regulatory agencies' roles in apprehending crypto hackers through continued surveillance. This decisive action by Judge Robinson will uphold justice, enhance security, protect crypto investors, and provide a more trustworthy environment for the fast-growing crypto industry.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions.

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