An officer from the UK's National Crime Agency (NCA) has been accused of stealing 50 Bitcoins while investigating cybercrime in 2017. The money was worth nearly £60,000 at the time, but is now worth more than £3 million at current Bitcoin prices.


Police Officer Charged with 15 Counts


The officer charged is Paul Chowles, 42, a #NCA investigator from Bristol. He faces 15 criminal charges, including:


  • Eleven counts of concealing, disguising or converting criminal property.


  • 3 counts of possession or use of illegal property.


  • 1 count of theft.



Chowles is expected to appear at Liverpool Magistrates' Court next month, where the charges will be formally heard.


From £60,000 To £3 Million: Bitcoin's Skyrocketing Value


In 2017, 50 Bitcoins were worth just £60,000. However, according to an online Bitcoin price converter, they are now worth more than £3 million – a 50-fold increase since the theft.


Bitcoin, invented in 2008, is the oldest and most valuable cryptocurrency on the market. Its value has skyrocketed over the years, making Bitcoin theft extremely attractive to cybercriminals.



The revelation that an investigating officer was involved in criminal activity during his own investigation has sent shockwaves through British law enforcement.


Malcolm McHaffie, head of the Crown Prosecution Service (CPS) - the UK's prosecution service, made a statement:



“We have authorised Merseyside Police to prosecute Paul Chowles on 15 counts relating to the theft of 50 Bitcoins during a cybercrime investigation in 2017. Proceedings have now commenced, and the defendant is entitled to a fair trial.”



The CPS also reminds all parties involved to respect the legal process and not make comments that could influence the outcome of the case.


What Happens Next?


Paul Chowles is due to appear in Magistrates Court #Liverpool next month. If convicted, he could face a lengthy prison sentence for abuse of power and misappropriation of property from a criminal investigation.


The big questions now are: Where are the stolen Bitcoins? Did Chowles have any accomplices? And how will this case affect the NCA’s reputation?


Whatever the outcome, the case is sure to become one of the biggest cryptocurrency-related scandals in British law enforcement. #anhbacong