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Cryptocurrency

Teenage Thief Arrested For Stealing $5,000 Bitcoin in Osun State

Teenage Thief Arrested For Stealing $5,000 Bitcoin in Osun State

  • A 19-year-old has been arrested for stealing and burglary in Osun state
  • Iwaku Olatunji was arraigned before an Osun State Magistrate Court after he reportedly broke into the house of one “Emmanuel” and stole his iPhone XR
  • $5,000 worth of Bitcoin was then fraudulently withdrawn from the cryptocurrency account of the iPhone owner

A teenager, Iwaku Olatunji, 19 has been arrested and arraigned before a court in Ile-Ife Osun state for theft.

According to the prosecutor, Inspector Adeshina, Olatunji broke into the house of one Mr. Kingsley Emmanuel in October and stole his iPhone XR.

From the stolen device, the thief fraudulently withdrew $5,000 worth of bitcoin from the cryptocurrency account of Emmanuel.

Bitcoin fraud

The inspector noted that the offenses contravened Sections 411 and 412 of the Criminal Code Cap 34 Vol. II Laws of Osun-State.

The defendant pleaded not guilty to the phone and bitcoin theft and his counsel, Reuben Abeginigo made an oral bail application for him.

Read also: Twitter Founder Jack Dorsey Names 3 Nigerians to Head Bitcoin Trust Fund

The magistrate in charge of the case, Mr. Elisha Aluko ordered that the defendant be remanded in prison pending the time that a formal bail application is made.

Bitcoin fraud

The case was then adjourned till January 25, 2022.

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