Arrested Hacker Claims $30 Million Bitcoin Theft – But Offers Little Proof

A Pennsylvania resident is claiming to have stolen millions in bitcoin, though he's offered police little in the way of evidence.

AccessTimeIconJul 21, 2017 at 10:00 a.m. UTC
Updated Sep 14, 2021 at 1:57 p.m. UTC
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Arrested for theft in Pennsylvania, a self-described computer hacker is claiming he stole $34 million in bitcoin, public records show. 

According to a criminal complaint filed in an Eastern District of Pennsylvania Federal Court, the man, named Theodore Price, had been apprehended for stealing two laptops and a gold necklace.

While the story may not seem like much at first, it's during the subsequent investigation where things got interesting. Price eventually told law enforcement officials he had stolen the sizable bitcoin stash.

Police first discovered Price had been using the Tor network to make purchases on Alpha Bay, the darknet market that was recently shut down. Later, he admitted he bought software on Alpha Bay and recoded it himself to "simulate the same coding that blockchain uses to make bitcoin wallets," the document reads. 

He then allegedly hacked into computers to divert funds to the wallets that he generated. Price claimed he went so far as to try and launder the bitcoins to another address in order to exchange them into fiat currency.

However, it has yet to be confirmed whether the claim is true. In addition, without the private keys, it remains unclear if Price even has access to the wallets.

In a novel twist to the story, Price further told the police that before the arrest he was planning to flee to the U.K. using a fake passport under the name Jeremy Renner, the actor best known for his role in "The Avengers" and "The Hurt Locker."

Handcuffs on keyboard image via Shutterstock

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