Former NCA officer ordered to repay £1,810,678.93 over 50 Bitcoin theft
Image: DecryptA former UK National Crime Agency officer has been ordered to repay £1,810,678.93, around $2.4 million, for stealing 50 Bitcoin seized in the Silk Road 2.0 investigation. Paul Chowles, 44, of Bristol, took the coins in May 2017, when they were worth about £60,000. The Crown Prosecution Service said the confiscation order was issued on September 30, 2026. Thirty of the 50 BTC were recovered.
Key points
- Paul Chowles, 44, of Bristol, stole 50 Bitcoin seized in the NCA's Silk Road 2.0 investigation.
- The theft took place in May 2017, when the coins were worth about £60,000.
- Chowles moved the coins through mixing services, including Bitcoin Fog, and cashed out.
- Thirty of the 50 BTC were recovered, and the order includes their value.
- The confiscation order was issued on September 30, 2026, for £1,810,678.93.
Why it matters
Recovered crypto can be valued at the time of a confiscation order rather than at the time of theft, so the order exceeds the original proceeds. The case also shows mixing services did not prevent tracing of the stolen coins.
What's unclear
One report says the stolen coins were worth about $77,000 at the time, the other says approximately $80,000.
One report says Chowles pleaded guilty in May 2025, the other describes a July 2025 sentencing after a guilty plea.
Price context · BTC
At publication
$83,701.00
Now
$84,276.00
Change since
+0.69%
7 days · dashed line = publication
Sources · 2 publishers
Crypto Briefing
Tier 2
Former NCA officer Paul Chowles ordered to repay $2.4M for Bitcoin theft during Silk Road 2.0 probe
Coverage timeline
- First reported by Decrypt
- Confirmed by Crypto Briefing
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
