British hacker sentenced to 3.5 years in prison for $900,000 Coinbase login scam

ChainCatcher news, a British computer hacker has been sentenced to three and a half years in prison for his involvement in fraud.

According to multiple news outlets, Elliot Gunton admitted to committing fraud and money laundering offenses outside the UK. At the time, he was only 17 to 18 years old and, along with others, stole over $900,000 from more than 500 Coinbase accounts. Gunton accessed the Coinbase accounts by directing online logins to a fake website.

Norwich Crown Court Judge Alice Robinson stated, "This is a highly sophisticated crime involving a significant amount of planning and technical expertise."