EA Hacker Posts $750,000 Bail in Cryptocurrency
August 18, 2018 11:16 am
Cryptocurrencies have transformed the landscape of the financial markets. They have been used to raise funds for donation and even to save the environment. However, not all use cases are directed towards a noble cause.
Electronic Arts (EA) is one of the world’s most successful gaming giants in the world. The company is known for its games like FIFA, Need for Speed and Battlefield series of games. EA manages assets worth over $8.5 billion US Dollars.
Martin Marsich was presented in front of the court on 9 August 2018 for crimes relating to the illegal access of the computer network. The 25-year-old Martin lives in Italy and has citizenship for both Serbia and Italy.
The FBI released an affidavit stating that a San Francisco company realized that it had been hacked by an outsider, gaining access to 25,000 registered accounts. These accounts were utilized by customers to purchase in-game items in video games. Later, the Daily Post revealed that the company in question was Electronic Arts.
Marisch used the hack to gain access to in-game currency to buy and sell items inside the game. He was accused of selling online games access on the black market which resulted in a loss of around $324,000 according to EA.
The Magistrate Judge ordered the release of Marsich on the condition that he posts a bail of $750,000 in cryptocurrency. The court has given him the option to pay the bail in Bitcoins or altcoins as per his convenience.
This high-profile case is a notable incident in the crypto world. This may be the first case we are seeing in which the victim was allowed to post bail in cryptocurrencies directly before conversion.