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Teens Jailed 23 Years for $150K Crypto Theft

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ByMarcel Bich

Aug 14, 2023
Teens Jailed 23 Years for $150K Crypto Theft
Marcel Bich
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Four teenagers carried out a series of robberies, targeting 26 individuals whom they threatened with knives to obtain access codes to their crypto wallets and stole over £115,000 ($150,000) worth of cryptocurrency.

Detective James Green described the teenagers as cowardly criminals, emphasizing that he had never encountered such ruthless offenders throughout his career as a police officer. The 19 robberies committed by the group victimized 26 people in total.

Through a food delivery transaction paid with stolen bank details, the police were able to trace and apprehend the intruders. The robberies occurred between June 2021 and January 2022, but the teenagers were arrested only in July. They now face charges of conspiracy to commit robbery.

Teens Exploit Stolen Data to Acquire Roblox Skins Through NFT Theft

Recent analysis revealed that over 900 Discord servers were compromised for phishing attacks since December 2021. These attacks impacted at least 32,000 wallets, resulting in the theft of non-fungible tokens (NFTs) and cryptocurrencies valued at $73 million.

Remarkably, approximately 95% of the hackers targeting the servers were underage users. They utilized the stolen funds to purchase laptops, phones, and Roblox skins. To cover their tracks, they enlisted individuals to register on exchanges using their personal information.

Russian Teenagers Show Limited Interest in Cryptocurrencies

A survey conducted by Engine Insights indicated that among American teenagers, cryptocurrency ranked as the second most popular investment choice. Stocks took the lead with 39% preference, followed by cryptocurrencies (29%), and real estate (29%).

In contrast, Russian high school students view NFTs and cryptocurrencies as passing trends. They exhibit a greater inclination towards short videos, video games, and smart home technology. Analysts attribute the relatively low interest in cryptocurrency and NFTs to a lack of awareness among children, rather than their obsolescence, highlighting the novelty factor.

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Marcel Bich

Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.