Israeli citizen accused of stealing over $1.7 million in cryptocurrency

Eliyahu Gigi, 31, from Tel Aviv, is accused of stealing over $1.7 million in various cryptocurrencies. Gigi allegedly stole BTC, Ethereum, and Dash from users in the Netherlands, Belgium, and Germany.

According to a report published by the Globe on the same day, Yeela Harel, a lawyer from the Cyber ​​Division of the New York State Attorney’s Office, filed a lawsuit against Gigi on July 17. Gigi was reportedly accused of crimes including theft, fraud, and money laundering.

Harrell's indictment reportedly alleges that Gigi set up an online fraud site to steal passwords by using malware. He is accused of using a variety of methods to cover his tracks, including using remote servers and transferring stolen funds through different wallets.

Gigi and his brother, a military veteran, were arrested in June for allegedly being involved in an international phishing scam, but Harel only charged Gigi.

Police apparently began investigating Gigi after receiving information about him dropping a scam link on a digital wallet forum. Gigi reportedly linked to a website that appeared to have a downloadable wallet manager. However, Gigi appeared to have collected and misappropriated users' account credentials in order to steal their passwords.

As Cointelegraph previously reported, a Microsoft employee was recently arrested for allegedly stealing $10 million in crypto. Volodymyr Kvashuk allegedly stole and resold crypto gift cards for Microsoft products and sold them to customers over the internet for a profit.