British police confiscated cryptocurrency from a teenager $2.7 million – Bits Media

Lincolnshire Police confiscate a teenager's 48 BTC and other crypto assets totaling over £2 million, accusing him of fraud and money laundering through cryptocurrencies.

From the Lincolnshire Police website
indicated, that a 17 year old was arrested 14 August 2020 years on suspicion of credit card fraud and theft of people's personal information. A teenager created a fake website, “masquerading” as the Love2Shop company, engaged in the sale of digital gift cards and certificates. People went to a fraudulent platform, believing, that they ended up on the official website of the store,and left personal information on it. Young offender managed to steal £6,500 worth of gift cards, and he used them to buy bitcoin.

During the investigation, cybercrime unit detectives confiscated 48 BTC and other digital assets totaling more than 2 Milln pounds, in what was one of the largest seizures of money in Lincolnshire. Besides, police found more than 12 000 credit card numbers and details 197 PayPal accounts. 26 October 2021 Lincoln Crown Court orders young offender to be rehabilitated through community service, because he is considered a minor.

“Cryptocurrencies are often used by criminals to move money anonymously. But, thanks to the development of digital investigations, Now the police can effectively find fraudsters, operating via the Internet. We are glad, that we are able to adapt to the ever-changing and complex nature of cyberspace", - Detective Luke Casey said (Luke Casey).

According to recent data from UK think tank Action Fraud, number of crimes, associated with cryptocurrencies, It grew on 30% Compared to 2020 year. The total amount of damage exceeded £146 million.