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IyaJJJ

Member

Registered: 2023-01-25

Posts: 1,576

6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

After pleading guilty to pretending to be an anonymous hacker and a whistleblower in an attempt to extort nearly $2 million worth of cryptocurrency while working at the company, a former Ubiquiti employee was given a six-year prison sentence.

Nickolas Sharp, 37, was detained in December 2021 for using his insider connections as a senior developer to steal private data and sending an anonymous email requesting payment of 50 bitcoin (equal to $2 million at the time) from the network technology provider in exchange for the stolen information.

Ubiquiti, on the other hand, refused to pay the demanded ransom and instead alerted the police, who later identified Sharp as the hacker after following a VPN connection to a Surfshark account he had bought using his PayPal account.

The U.S. government claims that Sharp "repeatedly abused his administrative access to download gigabytes of sensitive data from his employer.". S. The Justice Department continued, saying that he "modified session file names to try to make it seem as though other coworkers were responsible for his malicious sessions. ".

Along with making false claims that he was unaware of the extortion scheme, the defendant, who is based in Oregon, also altered log retention guidelines and other files to hide his unauthorized use of the company's network.

Sharp, who worked at Ubiquiti from August 2018 until the end of March 2021, pleaded guilty earlier this month to spreading rumors that the company had been hacked by an unidentified perpetrator who had obtained administrator access to the business's AWS accounts.

Ubiquiti lost over $4 billion in market capitalization as a result of the false security breach, which caused a 20 percent decline in the company's stock price in March 2021.

The "incident" was officially disclosed by Ubiquiti in January 2021, with the company citing "unauthorized access to certain of our information technology systems hosted by a third-party cloud provider" as the cause. It also urged users to enable two-factor authentication and change their passwords.

Along with the prison sentence, Sharp was also given a three-year supervised release period, ordered to pay $1,590,487 in restitution, and ordered to forfeit any personal property used or intended to be used in connection with the offenses. ".

oba

Member

Registered: 2023-01-13

Posts: 1,858

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

This is an example of the greed habit we once talked about today and it is sad a worker of a company will pull a trick that will need in the loss of the company that hire and paid him for service by trying to scam them with the payment of 50 bitcoin

IyaJJJ

Member

Registered: 2023-01-25

Posts: 1,576

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

This is an example of the greed habit we once talked about today and it is sad a worker of a company will pull a trick that will need in the loss of the company that hire and paid him for service by trying to scam them with the payment of 50 bitcoin

What I hate the most about the person in the subject who is known by the name Nickolas Sharp is the spreading of FUD about the company data breach which lead to the company losing over $4 billion in market capitalization.

joanna

Member

Registered: 2023-01-10

Posts: 2,380

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

This is an example of the greed habit we once talked about today and it is sad a worker of a company will pull a trick that will need in the loss of the company that hire and paid him for service by trying to scam them with the payment of 50 bitcoin

What I hate the most about the person in the subject who is known by the name Nickolas Sharp is the spreading of FUD about the company data breach which lead to the company losing over $4 billion in market capitalization.

I also don't like the idea of him abusing the power and the power giving to him at his place of work. But come to think of it, his location was get through the VPN company he used.

IyaJJJ

Member

Registered: 2023-01-25

Posts: 1,576

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

This is an example of the greed habit we once talked about today and it is sad a worker of a company will pull a trick that will need in the loss of the company that hire and paid him for service by trying to scam them with the payment of 50 bitcoin

What I hate the most about the person in the subject who is known by the name Nickolas Sharp is the spreading of FUD about the company data breach which lead to the company losing over $4 billion in market capitalization.

I also don't like the idea of him abusing the power and the power giving to him at his place of work. But come to think of it, his location was get through the VPN company he used.

Yes, it's a sign that the VPN company dont have the power and potential to protect their customers privacy. Besides, this issue shows that it is not good to pay for any VPN service with paypal and other centralized payment platform

oba

Member

Registered: 2023-01-13

Posts: 1,858

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

What I hate the most about the person in the subject who is known by the name Nickolas Sharp is the spreading of FUD about the company data breach which lead to the company losing over $4 billion in market capitalization.

I also don't like the idea of him abusing the power and the power giving to him at his place of work. But come to think of it, his location was get through the VPN company he used.

Yes, it's a sign that the VPN company dont have the power and potential to protect their customers privacy. Besides, this issue shows that it is not good to pay for any VPN service with paypal and other centralized payment platform

Meanwhile, there is some VPN services provider that also gives their user sensitive information to the authority either and it is good to know the VPN well while we also buy or paid for VPN using the CRP coin on Arcadia marketplace.

joanna

Member

Registered: 2023-01-10

Posts: 2,380

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

I also don't like the idea of him abusing the power and the power giving to him at his place of work. But come to think of it, his location was get through the VPN company he used.

Yes, it's a sign that the VPN company dont have the power and potential to protect their customers privacy. Besides, this issue shows that it is not good to pay for any VPN service with paypal and other centralized payment platform

Meanwhile, there is some VPN services provider that also gives their user sensitive information to the authority either and it is good to know the VPN well while we also buy or paid for VPN using the CRP coin on Arcadia marketplace.

Speaking of a good VPN service provider which can you guys recommend when privacy is the top priority? I personally see the Utopia web proxy and Idyll browser as the best. What's yours?

oba

Member

Registered: 2023-01-13

Posts: 1,858

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

Yes, it's a sign that the VPN company dont have the power and potential to protect their customers privacy. Besides, this issue shows that it is not good to pay for any VPN service with paypal and other centralized payment platform

Meanwhile, there is some VPN services provider that also gives their user sensitive information to the authority either and it is good to know the VPN well while we also buy or paid for VPN using the CRP coin on Arcadia marketplace.

Speaking of a good VPN service provider which can you guys recommend when privacy is the top priority? I personally see the Utopia web proxy and Idyll browser as the best. What's yours?

Normally, the place to get the best privacy and security equipment will be through the platform or project that focuses on the same thing field and the industry-leading service. I also choose the UtopiaP2P private browsers.

full

Member

Registered: 2023-01-06

Posts: 1,098

Re: 6 Years in Prison for $2 Million Crypto Extortion Case for Ex-Ubiquiti

Meanwhile, there is some VPN services provider that also gives their user sensitive information to the authority either and it is good to know the VPN well while we also buy or paid for VPN using the CRP coin on Arcadia marketplace.

Speaking of a good VPN service provider which can you guys recommend when privacy is the top priority? I personally see the Utopia web proxy and Idyll browser as the best. What's yours?

Normally, the place to get the best privacy and security equipment will be through the platform or project that focuses on the same thing field and the industry-leading service. I also choose the UtopiaP2P private browsers.

Typically, total decentralization provides numerous solutions to the problem that has to do with privacy and security because if the government or an individual can not manipulate or intervene in the service of an ecosystem and advanced tor is added then the user ID, location and anonymity is protected.