According to foreign media reports, British police seized more than 2 million pounds ($2.7 million contract) worth of cryptocurrency from a 17-year-old boy, and the cryptocurrency was obtained through online fraud, and eventually the cryptocurrency was confiscated by police.

The defrauded funds were used to invest in cryptocurrencies

In the early days of the pandemic, an ambitious young man trapped in his bedroom decided to set up a fake "Love2Shop "gift card website to collect payment information from people. Between January and March 2020, he received a total of £323,000 ($430,000 contract) through his PayPal account, which went into his account and was used by him to buy large amounts of cryptocurrency.

According to prosecutors, Google did not bar him from buying Google ads because of his age, and people were often tricked by ads that lured them to his phishing sites. In addition, the teenager is also a cunning investor, he used the money to invest in cryptocurrencies, and as the cryptocurrency skyrocketed, it made huge profits, its value eventually rose to more than $2.7 million.

Eventually, the teenager was sentenced to a year of youth rehabilitation for fraud and money laundering, and his bitcoins were confiscated. He was not named in the report because he is a minor.

Network information should be treated rationally and carefully screened

The fact that a child was able to pull off a scam on this scale clearly shows a lack of basic security awareness among Internet users, the researchers said. Forty years into the development of Internet technology, two fundamental questions remain unresolved: How do consumers verify that the websites they visit are legitimate? Second, how do investors verify whether their online investment and financing is compliant?

In fact, it is precisely because these two basic problems have not been effectively solved that online fraud has been allowed to breed globally. The false advertising and false investment platforms that can be seen everywhere on the network have led to various kinds of financial investment fraud, and whenever traders fall into the trap of the black platform, they always regret the original and regret the tricks of the cheater.

Network information is difficult to distinguish between true and false, network investment fraud methods are becoming more and more high-end, consumers should be rational treatment, careful screening of network information, involving money to pay extra attention! In particular, foreign exchange and futures investments, do not believe all kinds of rhetoric from strangers, if there is a need for investment, you need to choose a compliant trading platform on the premise of mastering some investment knowledge.