An Israeli Convicted Over Alleged Stealing Of $1.75 Million in Crypto

Meeting O. Progress || JULY 19, 2019


A 31-year-old Israeli, Eliyahu Gigi has been charged to court for allege stealing of over $1.75 million in cryptocurrencies.

According to a report by Global, an Israeli news outlet, the Tel Aviv hacker was accused of various cyber crimes under the Computers Law, including theft, fraud, aggravated counterfeiting, use of a forged document, perjury, money laundering, and offenses under the Income Tax Ordinance

An indictment by Harel claims that Gigi set up various scam websites to steal crypto through the use of malware. He is accused of using different tactics to carry-out the act, including using remote servers, developed apps and shuffling the stolen funds around through different wallets.

The report also have it that Gigi and his younger brother, a 22 year-old demobilized soldier, were arrested in suspicion of stealing $100 million in crypptocurrencies, but the charges filed were against Gigi which brought the suspicious stolen $100 million down to $1.75 million.

The police apparently first began investigating Gigi when they received information suggesting that he was dropping scam links on digital wallet forums. According to the report, Gigi would link to a website that appeared to have a downloadable wallet manager. However, Gigi appeared to have collected and misappropriated users’ account credentials to steal their crypto.