Norwich Court Sentences Elliott Gunton for Coinbase Account Hacks

Elliott Gunton, a 24-year-old, has been sentenced by the Norwich Crown Court for his role in hacking into over 500 Coinbase accounts. The incidents occurred between 2018 and 2019, resulting in the theft of more than $900,000.

Fake Logins and Phone Diversions

The court revealed that Gunton and his accomplices directed users to fake websites to capture login credentials. They also accessed private accounts by diverting phone calls, using fabricated stories when contacting telecom companies.

Past Criminal Activity

Gunton had previously stolen personal data from TalkTalk customers and hacked Instagram accounts. These actions led to significant financial losses, including thousands of pounds in cryptocurrency. In 2019, he was sentenced to 20 months in prison and ordered to pay £407,359 for hacking Instagram accounts.

Legal and Personal Context

Judge Alice Robinson described Gunton's actions as "highly sophisticated offending" driven by a desire for financial gain. Gunton pleaded guilty to conspiracy to commit fraud and money laundering. His defence lawyer, Matthew McNiff, portrayed him as an "obsessive loner" who has since attempted to change his life by starting a furniture business.

Coinbase's Security Challenges

Coinbase has been a target for hackers multiple times. In October 2021, accounts of at least 6,000 users were compromised by bypassing the two-factor authentication system. In another incident, a customer lost $96,000 in a phone hack and subsequently sued Coinbase.