Former Ubiquiti Employee Imprisoned for Attempted Extortion
A former employee of American technology company Ubiquiti has been sentenced to six years in prison after admitting to posing as an anonymous hacker and whistleblower in an attempt to extort nearly $2 million worth of cryptocurrency from the company.
Illegal Data Access and Extortion Attempt
Nickolas Sharp, a senior developer at Ubiquiti, was arrested for illegally accessing confidential data and trying to extort 50 Bitcoin from the company by sending an anonymous email. This breach led to a loss of over $4 billion in the company’s market capitalization as Sharp orchestrated the publication of misleading news articles about the incident.
US Attorney Damian Williams stated, “Nickolas Sharp was paid a significant salary to protect his employer, but he abused that trust by stealing sensitive data, extorting the company, spreading false news, and obstructing law enforcement. He now faces serious penalties for his actions.”
Legal Actions and Sentencing
Following a search warrant at Sharp’s residence in March 2021, FBI agents seized electronic devices used in the crime. Sharp pleaded guilty to transmitting a program to a protected computer, wire fraud, and making false statements to the FBI. In addition to the prison sentence, he was ordered to pay $1,590,487 in restitution, forfeit personal property related to the crimes, and undergo three years of supervised release.
This case comes after a recent incident where a US man was charged with fraudulently obtaining $110 million of cryptocurrency from a crypto exchange and its customers.
It serves as a reminder of the consequences of cybercrime and the importance of upholding trust and integrity in the workplace.