Cryptocurrency

Bitcoin Scam: Teenage Boy Arrested for Biggest Ever Cryptocurrency Fraud

Bitcoin Scam: Teenage Boy Arrested for Biggest Ever Cryptocurrency Fraud

  • A teenager has been arrested in Canada for what has been termed the biggest cryptocurrency theft in the world
  • The young Canadian was accused of stealing cryptocurrency worth $36 million in a SIM swap attack on the victim
  • The boy is set to face up to 10 years in prison for this shocking Bitcoin scam

A young Canadian from Hamilton has been accused of stealing cryptocurrency worth over $36 million.

Bitcoin scam

The boy reportedly misappropriated the funds in a sim swap attack on the victim who resides in the United States.

The local police claim that his Bitcoin scam is the largest ever committed by one man, according to news outlet Toronto Star.

Investigations into the crime began in March 2020, when Canadian law enforcement collaborated with American law enforcement agencies to arrest the teenager.

Read also: Couple Vanish After Stealing $20 Million Pandemic Relief Fund

According to a press release, the teenager was identified when he tried to use some of the cryptocurrencies to purchase a rare online gaming username.

The alleged perpetrator now faces up to 10 years in prison for the shocking cryptocurrency theft.

Cryptocurrency scam

Canadian authorities have announced the seizure of cryptocurrency assets worth more than $5.5 million.

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