Police Seize $2.8 Million Worth of Bitcoin From 17-year-old Scammer
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The UK police have seized almost $3 million worth of Bitcoin from a teenager who defrauded many
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The 17-year-old boy created a fake scam website that defrauded people of £200,000 worth of Bitcoin some years ago
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The boy created a copycat website of gift voucher seller “Love2shop”
The British police have seized Bitcoin worth $2.8 million from a teenager who scammed others using a fake website.
According to BBC News, the 17-year-old boy from South Lincolnshire was arrested by the police but his name was withheld for legal reasons.
Prosecutor Sam Skinner reported that the teen created a fake website that was almost identical to the official site of Love2shop where gift vouchers are sold.
He then promoted the website using Google ads, causing it to appear higher than the original site on the search engine.
Through the scam website, he was able to collect the details of Love2shop users and hacked into their accounts.
Read also: Fraudsters Capitalize on Facebook Scam to Steal Thousands in BTC
The 17-year-old stole £6,500 worth of vouchers and used the proceeds to buy bitcoin and other cryptocurrencies.
When he was arrested in August last year, the police found almost 48 BTC in his possession. Today, that amount of cryptocurrency is worth $2.8 million.
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