Colorado Man Sues Teenagers For Stealing $800K Worth Of His BTC

A Colorado man, Andrew Schober is suing two tech-savvy kids or better yet their parents, for stealing $800K in BTC from him as we are reading more today in our latest Bitcoin news.

Schober alleged that the tech-savvy kids in the UK stole his Bitcoin and now he is staking their parents to court. In 2018, he lost 16 bitcoins which were worth about $220,000 at the time and he managed to track it back to the UK and alleged that the two kids stole his BTC using malware. After asking for it back and not receiving a response, he wants to sue the parents of the kid. The cryptocurrency disappeared after Schober downloaded a sketchy crypto wallet app from Reddit which was created by two minors, Oliver Read and Benedict Thompson according to the court documents. The wallet redirected the funds to a different BTC address according to the filing. Schober then spent $10,000 on an investigation and tracked the BTC to the two teenagers in the UK and now both Read and Thompson are seeing their parents being sued. The teenagers studied computer science at the top UK university and the court documents also noted:

“The deployment of the Malware on Mr. Schober’s computer and the subsequent theft of Mr. Schober’s cryptocurrency was devastating for Mr. Schober.”

The Colorado man says he was not able to sleep or eat for days after he lost his BTC and was in a severe stage of distress for the past few years after the kids ended up stealing $800K worth of the coins:

“Mr. Schober was planning to use the proceeds from his eventual sale of the cryptocurrency to help finance a home and support his family.”

Andrew Schober wrote a letter to Read’s parents where he asked for the money to be returned  and wrote:

“Your son is obviously a very intelligent young man. I do not wish for him to be robbed of his future.”

The letter however was met with silence and Schober is now suing the partners of both teenagers. With their refusal to respond to his demands for the return of his crypto, the defendants refused to return the crypto as well. The parents of the teens since responded and in a filing this month, they argued that the three-year statute of limitations applies which means Schober is now out of time to take legal action. The parents didn’t deny their sons stole the BTC which soared in value by 600% since.