A former UK National Crime Agency (NCA) officer, Paul Chowles, has been sentenced to five and a half years in prison for stealing 50 Bitcoin, the Crown Prosecution Service (CPS) revealed in a press release. The value of the stolen bitcoin is now worth over £4.4 million ($5.9 million). The cryptocurrency had been seized during an investigation into Silk Road 2.0, the dark web marketplace that followed the original Silk Road.
The stolen Bitcoin originally belonged to Thomas White, co-founder of Silk Road 2.0. When 50 BTC were discovered missing, investigators initially believed White had accessed the funds using advanced techniques. However, White denied any involvement and insisted that only someone within the NCA could have accessed the crypto wallet.
This claim led Merseyside Police to re-investigate the theft. Chowles was present during their coordination meetings with the NCA. As the case reopened, evidence began pointing inward.
Digital trail, crypto cards, and what comes next
Police uncovered a phone linked to Chowles that had been used to access the stolen crypto funds. Internet searches related to crypto exchanges were also found, along with notebooks in his office containing usernames, passwords, and wallet details related to White’s accounts.
Further investigation revealed that Chowles had used two crypto-enabled debit cards to spend over £109,000 ($146,000), while the CPS valued his total benefit at £613,000 ($821,000). He routed the stolen Bitcoin through a crypto mixing service, Bitcoin Fog, to conceal its origins. Forensic blockchain firm Chainalysis played a key role in tracking the transactions and identifying the destination of the funds.
The Crown Prosecution Service has confirmed that confiscation proceedings will now be launched. Chowles, once praised for his technical expertise in cybercrime, exploited his privileged role to enrich himself, an act that has severely damaged the NCA’s credibility.