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Former Microsoft Employee, Volodymyr Kvashuk Sentenced to 9 Years in Prison for $10 Million in Bitcoin

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Former Microsoft Employee, Volodymyr Kvashuk Sentenced to 9 Years in Prison for $10 Million in Bitcoin

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A former Microsoft software developer was found guilty earlier this year and sentenced to 9 years in prison for stealing more than $10 million in Bitcoin. The 26-year-old Ukrainian, Volodymyr Kvashuk used the accounts and passwords of other employees, as well as the services of various Bitcoin mixers.

The Seattle U.S. District Court sentenced Volodymyr Kvashuk on 18 counts. Volodymyr worked as a software developer at Microsoft from August 2016 till he was fired in June 2018. 

In an original sentence, Kvashuk was given a 30-year prison sentence. However, a statement from the US Department of Justice reduced the sentence to nine years.  

Kvashuk used his position as a software developer in Microsoft’s online retail program to steal “Cash Storage Value (CSV)”. First, he used his account access to steal no more than $12,000. After the money climbed to millions of dollars, he decided to blame his colleagues with their accounts and passwords.

In the end, Kvashuk sent millions of dollars worth of bitcoin to his account and set up a BTC mixer to hide the source.

Volodymyr Kvashuk Used Stolen Funds on a Lavish Lifestyle

According to a statement from the US Department of Justice, Kvashuk used these guns to buy a waterfront home for $1.6 million and a Tesla car for $160,000. 

Interestingly, the Ukrainian said at the trial that he had no intention of deceiving Microsoft or its colleagues. He claimed to be working on special projects that will benefit the company.

Kvashuk has to pay more than $8 million in damages and may be deported after jail.

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