Cryptocurrency News

UK Teen Arrested for Alleged Involvement in Crypto Scam

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A 19-year old was apprehended, accused of being a part of a scandal in cryptocurrency linked case. The unknown teenager is allegedly responsible for the stealing of yet-to-be-released songs of a renowned recording label to sell them off in virtual currencies.

The suspect is believed to have gained illegal access to the firm’s website and accounts on the cloud, which led to his detainment by the London Police Intellectual Property Crime Unit and the office of Manhattan District Attorney’s.

IFPI, The International Federation of the Phonographic Industry, is reported to have helped the PIPCU, by informing them about the location of the accused who is believed to have stolen unreleased music from the label.

IFPI in a news report claimed the nationality of the boy to be British. IFPI’s secret information helped the PIPCU to track down the boy in North London and raid his home in Ipswich.

During the arrest, a spokesman Nick Court from PIPCU talked out the media and gave credits to their working partners, the office of Manhattan District Attorney and IFPI, to have brought this case to destiny.

Addressing his media people, Nick Court, an inspector from the team spoke that the music producers had put unending efforts to release something that people will love; and stealing away the storm of their hard work is the most undignified act in the eyes of law, burdening artists with a swarm of financial and reputational loss.

He also stated how this apprehension would be an important lead in setting a manifestation to the fate of pilferers who commit such acts. He also made a gratified implication in his statement to the IFPI’s companionship and District Attorney Court of Manhattan, that consolidated and expedited the operation to find the accused.

Today’s action marks a significant point in our investigation into the individuals responsible for stealing music and selling it on illegal streaming websites, worldwide. This sort of crime causes significant financial loss to those who work so incredibly hard to produce, write, and make music for their fans to enjoy.

 “I am grateful for the support of our partners and colleagues in the Manhattan District Attorney’s office and IFPI in this case, which demonstrates the capability of enforcement agencies to work across international borders to disrupt criminal activity and identify those involved so they can be put before the courts.”

 IFPI, The renowned music management company is an official partner of the City of London Police, hence their aid in the circumstances proved to be the greatest asset in nabbing the criminal.

This however not the first instance of Songs been stolen from major labels and exposed on the internet in recent years.

In the month of June this year, Radiohead the English band launched demos and outtakes, their album from 1997 to respond to a theft that put the music worth $150,000 on sale on the internet.

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