Daily Post, Martin Marisch has been charged with hacking Electronic Arts, a well-known video games company responsible for popular titles such as FIFA, The Sims, and Battlefield. Marisch gained access to EA’s central computer systems and obtain 25,000 customer records. He could’ve used this information for substantial financial gain, but the attack was caught in time.
Federal Judge Jacqueline Corle ordered The defendant was to pay the equivalent of $750,000 in Bitcoin or other cryptocurrencies in order to post a bail. The number of tokens required to pay this sum will be changing on a daily basis, given the volatility of cryptocurrency.
It is a cause of celebration among some enthusiasts as this decision inadvertently support cryptocurrency mass adoption. Though we don’t want to dampen their happiness, there is a rational legal explanation for the acceptance of cryptocurrencies as bail payment. Abraham Simmons, US assistant district attorney, states that judges have a broad spectrum of discretion regarding enforcing bail payments. They can be tailored according to the assets that the defendant has access to, for instance, real estate or cars can be enforced as collateral against bail payments.
All things considered, Marisch major stash might have been in digital currencies thus the judge may have ordered cryptocurrency as bail payment. Along with the obvious push to cryptocurrencies adoption, this also comes as a warning for Cyber-criminals. Just because they have wealth stored in cryptocurrency, away from the direct prying eyes of banks, governments and the taxmen; it doesn’t mean it is safe.
Arshmeet Hora
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.
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