Teen Rakes in $2.74M Worth of Bitcoin in Phishing Scam

The kid was busted after abusing Google Ads to lure users to his fake gift card site. 

During the early days of the pandemic, while the rest of the world was stress streaming and working on sourdough starter, an ambitious teen stuck in his bedroom decided to set up a fake “Love2Shop” gift card site to harvest people’s payment information, invest the stolen money in cryptocurrency and become a millionaire.

The intrepid 17-year-old in the U.K. collected just under $9,000 before the real Love2Shop caught on when customers started to complain, according to a local report from Lincolnshire Live. The boy’s name is being withheld because he’s a juvenile.

His age certainly didn’t prohibit the scammer from being allowed to purchase Google ads to help lure people to his phishing scam site, according to prosecutors, ultimately ranking the scam phishing site over the legitimate one.

In all, law enforcement said they found 12,000 credit card numbers and 197 PayPal accounts on his computer. They added that he had collected more than $440,000 in stolen money.

“He had received through his PayPal accounts between January and March 2020 a total of £323,000,” the case’s prosecutor, Sam Skinner,

Read More: https://threatpost.com/teen-rakes-in-2-74m-worth-of-bitcoin-in-phishing-scam/175834/