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US Sheriffs Welcome $1.7 Million Windfall After Students Plead Guilty to Stealing 5,400 BTC

• https://news.bitcoin.com

Two Jacksonville students are facing up to two decades behind bars after pleading guilty to stealing $4 million worth of bitcoin. The pair hacked darknet site Sheep Marketplace in 2013 and made off with 5,400 BTC. Under forfeiture laws, Nassau County Sheriff's Office will share in a $1.7 million windfall.

ounty Sheriff's Office will share in a $1.7 million windfall.

Also read: US Marshals Plan to Auction $52M Worth of Seized Bitcoins

LEA Celebrates Another Bitcoin Bonanza

Bitcoin thefts end badly for hackers who don't cover their tracks, but spell great news for law enforcement. Across the US, federal and state agencies have been treating themselves to new computers and other equipment, all paid for with confiscated digital assets. It's common practice for law enforcement to keep a portion of the proceeds from major crimes, but bitcoin's rising value, coupled with the glacial pace at which criminal trials move, has caused payouts to balloon.

US Sheriffs Welcome $1.7 Million Windfall After Students Plead Guilty to Stealing 5,400 BTC

This week, Sean Harrison Mackert and Nathan Gibson pled guilty to wire fraud for hacking drug marketplace Sheep in late 2013. The pair, who are in their mid twenties, face a maximum sentence of 20 years in jail, in a case that news.Bitcoin.com first reported on last year. But one legal official believes they deserve to walk free.

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