A judge has sentenced Australian citizen Kathryn Nguyen to a maximum time of 2 years and three months in prison for her office in stealing more than 100,000 XRP tokens in Jan 2022.

According to an Aug. 11 report in Australian publication Data Age, Nguyen was sentenced over the theft of more $300,000 in XRP 2 years ago. She was initially charged in Oct. 2022 and pled guilty to fraud charges the following August.

Chris Craigie, the estimate presiding over Nguyen's case, said it was a "difficult and troubling decision" to send her to prison. The Australian national will reportedly be eligible for parole in October 2022.

Outset Australian crypto fraud case

Nguyen was one of the get-go people to be charged with the theft of crypto avails in Australia.

In January 2022, she reportedly hacked into the email of a 56-twelvemonth-quondam man with the same last name as her and stole all his XRP holdings before releasing command of the account two days later. This was at a time when the crypto nugget was well-nigh its all-fourth dimension high of $iii.84.

Nguyen reportedly transferred the XRP holdings to a Chinese crypto exchange where she swapped the tokens for Bitcoin (BTC), sending them to multiple wallets in what may accept been an attempt to wash the funds. According to local news outlet 7News Sydney, regime in Cathay were only able to recover roughly $9,000.

XRP falls out of favor

The value of XRP has since dropped to $0.30 as of this writing, making the corporeality of crypto stolen now worth approximately $30,000.