A UK National Crime Agency officer has been charged with the alleged theft of 50 Bitcoin in 2017, then worth $77,000.

Paul Chowles, 42, from Bristol, stands charged with 15 counts of criminal offences in relation to the theft, which he is accused of having committed while working as an operational officer at the NCA.

The alleged theft took place during an ongoing investigation into online organized crime, according to the investigating Merseyside Police.

At the time, in 2017, the haul of 50 BTC was worth around $77,000 (£60,000) but by today’s measure the value stands closer to $4 million.

In a statement, Malcolm McHaffie, Head of the Crown Prosecution Service Special Crime Division, said: “Mr Chowles, 42, is due to be charged with 11 offences of concealing, disguising, or converting criminal property, three offences of acquiring, using or possessing converting criminal property and a single count of theft.”

Mr Chowles is due to appear at the Liverpool Magistrates’ Court on 25 April 2025.

Mr McHaffie added that, “The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are now active and that he has the right to a fair trial.

“It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”

What is the NCA?

The National Crime Agency is the UK’s main agency that works against serious and organized crime, with a focus on cybercrime and economic crime both nationally and internationally.

In 2024, the NCA was granted new powers to “seize, freeze and destroy” cryptocurrency used by criminals, enabling it to seize crypto from suspects without being required to make an arrest.