Share this article
UK Police Seize $2.7M in Crypto From Teenager in Money Laundering Investigation
The 17-year-old appeared in court on Tuesday and was sentenced to community service.
Updated May 11, 2023, 5:51 p.m. Published Oct 27, 2021, 11:57 a.m.
U.K. police seized more than £2 million ($2.7 million) in cryptocurrency from a 17-year-old during an investigation into what they called a “sophisticated cyber fraud.”
- Detectives from the Cyber Crime Unit said they had uncovered links to money laundering through cryptocurrency, which led to the seizure of more than 48 bitcoin and other cryptocurrencies.
- The teenager, who was not identified for legal reasons, was arrested in August 2020 following an investigation into reports of credit card fraud and the theft of personal information to defraud a digital gift voucher company out of approximately £6,000 ($8,200).
- Links to money laundering through cryptocurrency were discovered later.
- The youth appeared in court in the northern English city of Lincoln on Tuesday and was sentenced to service in the community.
- “This was a sophisticated cyber fraud and a complex investigation which involved our Cyber Crime Unit working collaboratively with a number of external agencies and other internal departments,” said Cyber Crime Investigator Detective Constable Luke Casey.
Read more: International Police Seize $4.9M in Crypto From Alleged Darknet Drug Traffickers
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
