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10/01/2026

Ex-NCA Officer Ordered to Repay $2.4M for 2017 Bitcoin Theft

What happened: Paul Chowles, a former UK National Crime Agency officer, was ordered to repay £1.

Ex-NCA Officer Ordered to Repay $2.4M for 2017 Bitcoin Theft

What happened: Paul Chowles, a former UK National Crime Agency officer, was ordered to repay £1.8 million ($2.4 million) for stealing 50 BTC from a Silk Road 2.0 seizure in 2017. The BTC was worth $77,000 at the time but appreciated more than 30-fold. Chowles had laundered the funds through mixers and debit cards, but 30 BTC were recovered after a 2022 search. He pleaded guilty in 2025 and is serving a 5.5-year sentence; the latest order is a repayment under the Proceeds of Crime Act.

Why it matters: The case highlights the long-term risks for insiders who attempt to steal digital assets, as blockchain forensics enabled the recovery of most of the funds years later. The dramatic increase in Bitcoin's value also means that restitution orders can far exceed the original theft, setting a precedent for future cases. The story underscores the importance of robust oversight and forensic capabilities in law enforcement's handling of seized crypto assets.

Source: Decrypt