Zak Coyn, founder of phishing-as-a-service (PhaaS) provider LabHost, has been jailed for eight and a half years, according to the Crown Prosecution Service. According to the Crown Prosecution Service, the 24-year-old received $230,000 worth of cryptocurrency for designing and operating the site. The digital assets were laundered through multiple wallets and eventually exchanged by third parties for cash and then transferred to his bank. It is estimated that thousands of criminals in 91 countries used LabHost to commit fraud, amounting to more than one million people in total. Previously, it was reported that police from multiple countries have joined forces to crack down on LabHost phishing services