Internet reports, Decrypt reported that Zak Coyn, founder of phishing as a service (PhaaS) provider LabHost, was sentenced to eight and a half years in prison. According to the Crown Prosecution Service, the 24-year-old man obtained US$230,000 worth of cryptocurrency for designing and operating the website. These digital assets were laundered through multiple wallets and eventually converted into cash by a third party and transferred to his bank. It is estimated that thousands of criminals in 91 countries have used LabHost to commit fraud, totaling more than one million people. Earlier, police from many countries jointly cracked down on LabHost phishing service