$900K Coinbase Login Scam Lands Hacker 3.5 Years in Prison
A UK hacker, Elliott Gunton, has been sentenced to three and a half years in prison for orchestrating a sophisticated scam that defrauded victims of over $900,000 through a fake Coinbase login scheme. The sentencing took place at Norwich Crown Court, where Judge Alice Robinson highlighted the severity of Gunton’s actions, which involved creating dummy websites that mimicked the legitimate Coinbase platform to steal user login credentials.
The scam, which occurred between 2018 and 2019, was part of a broader pattern of criminal behavior by Gunton, who had previously gained notoriety as a hacker at a young age. At just 16, he was involved in a high-profile breach of the UK telecommunications company TalkTalk, where he sold stolen customer data in exchange for cryptocurrency. In a separate incident in 2019, he was ordered to repay £407,359 (approximately $524,000) and received a community order for hacking a prominent Instagram account.
Authorities tracked down Elliott Gunton through a combination of investigative techniques and his own online behavior. Gunton was active on various hacking forums, where he boasted about his exploits and the money he was making through illegal activities. His posts on platforms like Twitter and HackForums revealed his involvement in selling compromised social media accounts and engaging in cryptocurrency fraud. This online persona made it easier for investigators to gather evidence against him.
The Norfolk and Suffolk cyber-crime unit, which had been established to tackle sophisticated cyber crimes, conducted a thorough investigation into Gunton’s activities. They monitored his online transactions and communications, which included incriminating chats about his scams.
The investigators focused on tracing the cryptocurrency associated with Gunton. Although tracking cryptocurrency transactions can be complex, authorities managed to recover approximately £275,000 worth of cryptocurrency linked to him. This financial evidence was crucial in proving his involvement in the scams.
Gunton’s previous convictions for hacking and fraud provided a foundation for law enforcement to scrutinize his activities more closely. His history of crimes made him a target for ongoing investigations.
During the court proceedings, Gunton’s defense attorney described him as an “obsessive loner” who had isolated himself and immersed himself in computer activities. The defense argued that Gunton was attempting to reform his behavior and had even started a furniture business. However, Judge Robinson noted that Gunton’s thrill-seeking nature ultimately led him to prioritize financial gain over ethical considerations.
The case underscores the ongoing challenges of cybersecurity in the cryptocurrency space, where scammers continue to exploit vulnerabilities and deceive unsuspecting users. As the digital landscape evolves, law enforcement agencies are increasingly focused on tackling such fraudulent activities to protect consumers and maintain trust in cryptocurrency platforms. Gunton’s sentencing serves as a cautionary tale for both potential hackers and users alike, highlighting the importance of vigilance in safeguarding personal information online.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
