• Latest
  • Trending
UK Police Seize Over $2.7 Million In Crypto From 17 Year Old

UK Police Seize Over $2.7 Million In Crypto From 17 Year Old

October 28, 2021
Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

March 18, 2023
Bitcoin (BTC) Price Analysis for March 17

Bitcoin (BTC) Price Analysis for March 17

March 18, 2023
Cardano Blockchain Releases Update to Enhance Network Communication

Cardano Blockchain Releases Update to Enhance Network Communication

March 18, 2023
More 186 US banks well-positioned for collapse, SVB analysis reveals

More 186 US banks well-positioned for collapse, SVB analysis reveals

March 18, 2023
Kazakhstan Shuts Down Crypto Exchange | by Crypto Beat | The Capital Platform | Mar, 2023

Kazakhstan Shuts Down Crypto Exchange | by Crypto Beat | The Capital Platform | Mar, 2023

March 17, 2023
Radiant (RDNT), GMX and Other Arbitrum Tokens Are Rallying, What’s Next?

Radiant (RDNT), GMX and Other Arbitrum Tokens Are Rallying, What’s Next?

March 17, 2023
Could Legendary Hip Hop Platform DatPiff Serve as a Springboard for ‘Music NFTs’?

Could Legendary Hip Hop Platform DatPiff Serve as a Springboard for ‘Music NFTs’?

March 17, 2023
BitKeep and Bitget Join Forces to host the Sui Futures Airdrop; Get Ready for the Sui Mainnet!

BitKeep and Bitget Join Forces to host the Sui Futures Airdrop; Get Ready for the Sui Mainnet!

March 17, 2023
Microsoft reportedly testing Edge browser web3 wallet integration

Microsoft reportedly testing Edge browser web3 wallet integration

March 17, 2023
  • Privacy Policy
Saturday, March 18, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto Technical Analysis

UK Police Seize Over $2.7 Million In Crypto From 17 Year Old

J_News by J_News
October 28, 2021
in Crypto Technical Analysis, Top News
0
UK Police Seize Over $2.7 Million In Crypto From 17 Year Old
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Police in Lincolnshire, UK announced on October 26, 2021, that they had seized around $2.75 million worth of crypto from a 17-year-old in Lincolnshire County. According to the announcement, the operation was carried out by the Lincolnshire Police Cyber Crime Unit. The seizure is part of a money-laundering investigation. According to the police, the seizure is one of the first and biggest of its kind in the county.

Related articles

Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

March 18, 2023
Bitcoin (BTC) Price Analysis for March 17

Bitcoin (BTC) Price Analysis for March 17

March 18, 2023

Details Of The Report

The police revealed that they seized the cryptocurrency from a 17-year-old who resides in the south of the county. However, his name was not revealed because of legal reasons. The suspect was arrested on August 14, 2020, following reports from Action Fraud and Crimestoppers. Information revealed to the police suggested that he was part of a credit card fraud scheme. It was said that the teenager had stolen personal data to steal over $8000 from a digital gift card company.

Upon further investigations, the Cyber Crime Unit found that the teenager was linked to a money-laundering scheme using crypto. Upon further investigations, the police seized over 48 Bitcoin and other crypto coins.  The boy used the proceeds of his criminal activity to invest in crypto.

Commenting on the case, Detective Constable Luke Casey, said that the scheme was a “sophisticated cyber fraud.” He added that it was a complex investigation that involved their Cyber Crime Unit working with several other agencies and internal departments. Detective Casey also thanked everyone involved in helping to bring a positive outcome to the case.

The Court Proceedings

For his crimes, the 17-year-old was given a 12-month rehabilitation order at the Lincoln Crown Court. The prosecutor, Sam Skinner, said that the boy created a fake site from his bedroom in April 2020. This site was strikingly similar to the official Love2Shop official site that sells gift vouchers.

Afterward, the boy placed ads via Google Ads, which led to the site being ranked above the genuine site. People were tricked into visiting his site believing that they were on Love2Shop. Court documents revealed that the teenager took down the site after a week when Love2Shop began an investigation into the site.

The boys used the proceeds from his one-week fraudulent scheme to purchase Bitcoin and other coins, which then soured in value. At the time of his arrest, the coins seized were worth around $275,000. However, their value has risen to over $2.75 million. Investigations also found the boy in possession of over 12,000 credit card numbers and the details of 197 PayPal accounts.

The 17-year-old who is studying his A-levels admitted to the crime of acquiring over $8,000 fraudulently. Judge Catarina Sjolin Knight ruled that the boy had all the crypto seized from him. She stated that:

“If he was an adult he would be going inside.” She told the boy, “You have a long-standing interest in computers. Unfortunately, you used your skills to commit a sophisticated fraud.”

Go to top

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal, and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

The post UK Police Seize Over $2.7 Million In Crypto From 17 Year Old appeared first on Visionary Financial.



Source link

ShareTweetShareShare
Previous Post

The Changing Composition Of Balance Sheets Reflects The Investment Landscape | by Jonathan Baird CFA | The Capital | Oct, 2021

Next Post

Bitcoin is becoming more mainstream with wider brand adoption | by DEFIESCROW DEFIX | The Capital | Oct, 2021

Related Posts

Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

Rasta Beach Club NFT Collection: Generative Art PFP Collection on Ethereum Blockchain

by J_News
March 18, 2023
0

Rasta Beach Club, a generative art PFP collection on the Ethereum blockchain, has announced a significant rise in the value...

Bitcoin (BTC) Price Analysis for March 17

Bitcoin (BTC) Price Analysis for March 17

by J_News
March 18, 2023
0

Bulls have seized the initiative again as most of the coins are in the green zone. BTC/USD The rate of...

Cardano Blockchain Releases Update to Enhance Network Communication

Cardano Blockchain Releases Update to Enhance Network Communication

by J_News
March 18, 2023
0

Sign up for Valid Points, our weekly newsletter breaking down Ethereum’s evolution and its impact on crypto markets.DISCLOSUREPlease note that...

More 186 US banks well-positioned for collapse, SVB analysis reveals

More 186 US banks well-positioned for collapse, SVB analysis reveals

by J_News
March 18, 2023
0

The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of...

Kazakhstan Shuts Down Crypto Exchange | by Crypto Beat | The Capital Platform | Mar, 2023

Kazakhstan Shuts Down Crypto Exchange | by Crypto Beat | The Capital Platform | Mar, 2023

by J_News
March 17, 2023
0

The ABS Change exchange was operating without a license and was carrying out a variety of illegal activities.Photo by Tim...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

The 7 Best New ICOs To Buy in 2023

Crypto Narratives to look out for in 2023 | by Blockchain Jew | The Capital Platform | Feb, 2023

New York Attorney General sues CoinEx over failure to register

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT