Bitcoin. Edward Smith/Getty Images
A 17-year old involved in a credit card fraud was seized by police in England with more than $2,000,000 worth of crypto.
After discovering money-laundering links, the Lincolnshire Police claimed that they had seized 48 bitcoins and other cryptocurrency.
The teenager boy was accused of money laundering and false representation.
A police officer in England said that they have seized more cryptocurrency worth $2 million from a 17 year old boy who allegedly cheated online.
The digital currency was taken by detectives from Lincolnshire Police's Cybercrime Unit in a case that involved an unnamed boy who was part of a April 2020 credit card fraud, according to a Tuesday statement.
The seizure and forfeiture of over 2 million crypto (or $2.7 million) was the largest in Lincolnshire, an East-England county with a North Sea coast.
More than 48 bitcoins and other cryptocurrency were confiscated by police. The suspect is accused of stealing personal information in order to defraud an online gift voucher company that had approximately 6,000. The suspect was then linked to cryptocurrency money laundering.
"Cryptocurrency, which is often believed by criminals to be an anonymous means to move funds around untected, but I'm glad we were able highlight that the police can now effectively investigate offenses like this," said Detective Constable Luke Casey of Lincolnshire Police, a cybercrime investigation.
The teenager was charged and sentenced Tuesday to youth rehabilitation.
Bitcoin traded at $59,929.
