Scottish court seizes bitcoin belonging to 'brains' behind machete crypto robbery: report

Quick Take

  • In Scotland, a man convicted for being the “technical brains” behind a 2020 assault and robbery of cryptocurrency had £110,000 (about $144,000) worth of bitcoin seized. 

A Scottish court has seized £110,000 (about $144,000) worth of bitcoin from the man considered the "technical brains" behind a 2020 assault and robbery of cryptocurrency, according to the BBC.

Prosecutors seized and converted the bitcoin into physical cash, according to the report. The bitcoin belonged to John Ross Rennie, who was "convicted of possessing stolen goods."

Rennie, who guided the robbers on how to transfer the cryptocurrency, was thought to be the "brains" behind a plan that involved three men assaulting a man in his home and then coercing him to transfer his bitcoin. 

The victim "was forced to transfer cryptocurrency after waking up to find a man standing over him with a machete," the report said.

Scottish police said this was the first time they traced stolen cryptocurrency in a robbery case.

 


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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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