Invaders Use Machete and Toblerone to Steal Bitcoin

September 03, 2024 06:03 PM AEST | By Team Kalkine Media

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Invaders Use Machete and Toblerone to Steal Bitcoin — Image source: shutterstock

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Scottish authorities have made significant strides in cryptocurrency tracing with the recent seizure and conversion of 23.5 Bitcoin stolen during a 2020 robbery near Glasgow. This case marks Scotland’s first instance of tracking and recovering stolen cryptocurrency.

The robbery, which occurred in March 2020 in Blantyre, involved three men who forcibly entered a residence, wielding a machete and a Toblerone chocolate bar. The assailants threatened and assaulted a resident, forcing him to transfer {Bitcoin} (BTC) from his account. The attack included violent acts, such as beating a woman with the Toblerone and making threatening gestures with it before fleeing the scene.

In a landmark move, Scottish prosecutors utilized proceeds of crime legislation to seize the stolen Bitcoin, which has now been converted into cash. This development was reported by BBC News on September 2, 2024. The Bitcoin, originally valued significantly lower at the time of the crime, was converted into a sum of £109,601 (approximately $144,017). This amount represents about 10% of the Bitcoin's current value, reflecting the valuation at the time of the robbery when Bitcoin was trading around £5,400.

John Ross Rennie, identified as the “technical brains” behind the operation, was convicted in November 2023 for his role in the crime. Although Rennie denied direct involvement, claiming a relative coerced him into depositing the stolen Bitcoin into an exchange account, the court deemed his actions essential to the theft. He was sentenced to 150 hours of unpaid work and a six-month supervision order.

Detective Inspector Craig Potter from Police Scotland's Cyber Investigations unit highlighted the significance of the case, noting that it was the first instance in Scotland where stolen cryptocurrency was tracked and recovered. This case underscores the increasing sophistication of financial crimes and the evolving capabilities of law enforcement in addressing digital asset theft.

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