Missouri Man Arrested for Bitcoin Extortion
A Missouri man, Daniel Rhyne, has been arrested for allegedly trying to extort his former employer, a New Jersey-based industrial company, using Bitcoin. On November 25, 2023, Rhyne sent an extortion email claiming he had locked out the company’s IT administrators and deleted server backups. He demanded a ransom of 20 Bitcoin, valued at approximately $750,000 at the time of the threat.
Investigations revealed that Rhyne had unauthorized access to the company’s systems, where he altered administrator passwords and scheduled server shutdowns. He now faces serious charges including extortion, intentional damage to a protected computer, and wire fraud, which could lead to a maximum of 35 years in prison and $750,000 in fines.
About Bitcoin.com
Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!