Bitcoin worth $667,000 Seized From Hacker By London Police

This file illustrates a Hacking system in a phishing scam style.

Half a million pounds ($667,000) worth of bitcoin has been seized by London Police from a prolific computer hacker in a case described as the first of its kind for the 188-year-old department.

Cybercrime detectives seized the bitcoin from 26 years old Grant West, who was sentenced to 10 years and 8 months in prison Friday for attacking some 100 companies worldwide, largely using 'phishing' email scams to obtain the financial data.

According to a Bloomberg report, once he obtained the data, West would then sell the material to marketplaces on the dark web and convert his profits into bitcoin.

The London Metropolitan police discovered evidence of cyber attacks on 17 major firm including Sainsbury's Asda, the British Cardiovascular Society, and the Finnish bitcoin exchange.

Officers also recovered a memory card containing approximately 78 million individual usernames and passwords.

This is why its essential for individual, small and large scale businesses to protect themselves with a strong password just to prevent your account from being hacked by a different type of hacking system by scammers.

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