Tammy Curtis, Managing Editor and Probable Cause Affidavit from FCSO
A couple of employees of the Glencoe Valero have found themselves jobless after their attempt at ingenuity in one of the newest type crimes, theft of cryptocurrency from a Bitcoin machine located inside the business.
Elizabeth Jane Austin, 52, and Dennis Kemp, 41, both of Glencoe were arrested on Feb. 4 for the crime of breaking an entering and theft.
According to the Probable Cause Affidavit from the Fulton County Sheriff’s Office, video obtained by investigators show the pair worked together in the crime. Kemp allegedly drilled out the lock on and the two then fed money from both the cash register and the store’s safe through the machine “purchasing” at least $13,000. Bond was set at $15,000 in both cases. Kemp posted bond with Triple R Bail Bonds on Feb. 7. At press time, Austin remained jailed.
Bitcoin theft is a relatively new type of crime but in larger metropolitan areas like Fayetteville, it is becoming more prevelant.
Most have little understanding of how this type of theft benefits criminals.
Cryptocurrency is a type of digital currency that generally exists only electronically. You usually use your phone, computer, or a cryptocurrency ATM to buy cryptocurrency. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrencies, and new ones keep being created.
According to the Federal Trade Commission, cryptocurrency can be purchased through an exchange, an app, a website, or a cryptocurrency ATM. Some people earn cryptocurrency through a complex process called “mining,” which requires advanced computer equipment to solve highly complicated math puzzles.
Cryptocurrency is stored in a digital wallet, which can be online, on your computer, or on an external hard drive. A digital wallet has a wallet address, which is usually a long string of numbers and letters. If something happens to your wallet or your cryptocurrency funds — like your online exchange platform goes out of business, you send cryptocurrency to the wrong person, you lose the password to your digital wallet, or your digital wallet is stolen or compromised — you’re likely to find that no one can step in to help you recover your funds. Cryptocurrency accounts are not backed by a government, and their values are constantly changing, making them a great target for thieves.
