Bitcoin Blackmailer Sentenced to 4+ Years, Threatened Lloyd's with Data Leak

A UK man has been sentenced to four years, two months after pleading guilty to charges of blackmail, possession of articles for use in fraud and possession of indecent images of children.

In May 2013, Lewys Martin allegedly demanded a payment of £207,000 in bitcoins from Lloyd's Bank, threatening to expose the details of thousands of bank accounts he illegally gained access to. He had gathered these details through phishing attacks and produced samples to validate his claims.

He also used software to anonymize his identity which, combined with the anonymity of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, would have covered his tracks.

The Metropolitan Police's Cybercrime Unit worked with Lloyd's as well as with a local paper to track down the blackmailer. Said Detective Chief Inspector Jason Tunn:

"I am pleased with today’s sentence which sends out a strong message that this type of crime is taken seriously. Martin pleaded guilty following diligent and complex detective work undertaken by my officers and the support we received from Lloyds Banking Group and The Sun. The MPS is determined to track down and prosecute cyber criminals that seek to defraud businesses and residents of London."

Following his arrest, investigators discovered compromised banking information and three malware programs used for phishing. Also discovered were indecent images of children, for which he received 23 months of his sentence.