Police in a UK city said they had seized more than $2 million worth of coins from a 17-year-old boy who acquired cryptocurrencies through online fraud. cryptocoin.com We share the details of the interesting event with you…
$2.7 million in cryptocurrency seized from 17-year-old boy
Detectives from the Lincolnshire police cybercrime unit have seized crypto from a case involving an unnamed child involved in April 2020 credit card fraud, the police department announced on Tuesday. Police confiscated over £2 million ($2.7 million) worth of crypto consisting of more than 48 Bitcoins and other altcoins. Authorities allege that the suspect stole around £6,000 of personal information to defraud a digital gift certificate company. Detectives later found money laundering connections via cryptocurrency.
“Cryptocurrency is often thought of by criminals as an anonymous way to move funds undetected, but in this case, I am glad we can highlight that the police are now able to effectively investigate such crimes,” a cybercrime researcher said. The teenager, who had $2 million in coins, was charged with fraud through forgery and money laundering and was sentenced to a rehab center on Tuesday.
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