Pa. Man Admits To Stealing $40M In Bitcoin

Law360, New York (July 20, 2017, 5:33 PM EDT) -- A Pennsylvania man is accused of identity theft and fraud after he admitted to stealing from individuals who use bitcoin, amassing a stash of the online currency valued at over $40 million, according to a criminal complaint filed Wednesday in federal court.

Theodore Price, a Montgomery County resident, was arrested on July 13 after authorities searched his residence over a burglary, and he subsequently admitted during questioning that he was a skilled coder who had developed software that allowed him to steal bitcoin, according to court documents.

Price admitted to having extensive knowledge of the dark web, telling investigators from the...

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