Summary
- A UK court has mandated that ex-National Crime Agency officer Paul Chowles pay back £1,810,678.93, approximately $2.4 million.
- Chowles embezzled 50 BTC from a wallet seized during the investigation into Silk Road 2.0.
- At the time of the theft in 2017, the coins were valued at around £60,000, or $77,000.
A former officer of the National Crime Agency, Paul Chowles, has been directed by a UK court to return £1,810,678.93, which equals roughly $2.4 million, due to his theft of 50 Bitcoin from a confiscated wallet involved in a dark web investigation. The coins held a value of about £60,000, or $77,000, when he misappropriated them nine years ago.
The Crown Prosecution Service secured this confiscation order against the 44-year-old Chowles from Bristol on Wednesday, under the Proceeds of Crime Act 2002.
⚖️ Ex-NCA officer Paul Chowles, 44, mandated to repay over £1.8 million following Bitcoin theft.
He illicitly took and concealed 50 Bitcoin seized during the investigation of the dark web marketplace Silk Road 2.0.
Read more 👉 https://t.co/we8H5uX7eZ pic.twitter.com/jWvGtCMELJ
— Crown Prosecution Service (@CPSUK) September 30, 2026
Of the 50 BTC stolen, 30 were recovered from Chowles, and the repayment order reflects the total value of the coins. The CPS explained the discrepancy between the stolen amount and the repayment figure is due to the increase in Bitcoin’s value since 2017.
Chowles was involved in the NCA's investigation of Silk Road 2.0, which was established by Thomas White shortly after the original Silk Road was taken down by the FBI in 2013. He was responsible for analyzing and extracting cryptocurrency from devices seized in the investigation, but instead, he transferred 50 BTC from a confiscated wallet and attempted to hide its whereabouts.
The stolen Bitcoin was taken from White’s reserve wallet over two days in May 2017. Chowles divided the total into smaller amounts, used the Bitcoin Fog mixing service, and withdrew funds via Cryptopay and Wirex debit cards through 279 transactions, accumulating £144,580.
For years, the blame for the theft fell on White, who consistently denied the allegations. By late 2021, the missing Bitcoin was considered untraceable. However, a search of Chowles' residence in 2022 uncovered devices containing the private keys, and Merseyside Police, aided by Chainalysis, traced the funds through the mixing service.
Chowles was subsequently sentenced to five years and six months in prison by Liverpool Crown Court in July 2025 after he pleaded guilty to theft, transferring criminal property, and concealing criminal property. The NCA terminated his employment on July 11, 2025.
Luke Clements, a prosecutor with the CPS Proceeds of Crime Division, remarked, "Paul Chowles exploited a position of trust for personal gain, stealing assets that had already been recovered through law enforcement action," emphasizing the agency's commitment to "relentlessly pursue offenders' assets."
A compensation order has also been issued for the victim in this case. Over the past five years, the CPS division has recovered more than £530 million via confiscation orders, returning over £102 million of that amount to victims.