While most police officers protect the public, one apparently decided to help himself to Bitcoin instead. Paul Chowles, an officer with the UK National Crime Agency, stands accused of swiping 50 Bitcoin during an investigation back in 2017. Worth about £60,000 then. Worth over £3 million now. Not a bad return on investment—except for that whole “committing a crime” part.
From £60,000 to £3 million—a stellar investment strategy undermined by that pesky “stealing evidence” technicality.
The Crown Prosecution Service isn’t messing around. They’ve hit Chowles with a 15-count indictment: 11 counts of concealing criminal property, three counts of acquiring criminal property, and one count of theft. He’ll face the music at Liverpool Magistrates’ Court next April. If convicted, he’s looking at up to 14 years per money laundering charge, plus another seven for theft. Math isn’t my strong suit, but that’s a lot of prison time.
This isn’t just about one crooked cop. It exposes a massive problem in how law enforcement handles digital assets. Turns out it’s pretty easy to move magic internet money when nobody’s watching closely. The NCA only recently got powers to seize crypto without making arrests. The lavish spending resembles how Malone Lam blew through millions on luxury cars after his cryptocurrency theft. Like the FBI’s recent case, these funds were often concealed using sophisticated peel chains to hide their origins. Too little, too late?
Chowles isn’t the first officer to allegedly help himself to a crypto windfall. A Russian investigator got 16 years for a $73 million Bitcoin heist. An Australian officer faced charges for stealing 81.616 Bitcoin. It’s becoming a trend. A very bad one.
The case could reshape UK crypto regulations. The government plans to roll out new frameworks by 2026. These 50 Bitcoin would qualify Chowles as a crypto whale, given that ownership of more than 1,000 Bitcoin typically meets this threshold. Expect tighter controls on how police handle seized digital assets. Multi-signature wallets. Independent audits. The works.
Meanwhile, the crypto industry watches nervously. This scandal undermines trust in law enforcement‘s ability to handle digital assets responsibly. It’s not just about one greedy officer—it’s about the system that made his alleged theft possible in the first place.
£60,000 to £3 million. Crime doesn’t pay, but in this case, it almost did. Spectacularly.
