18-Year-Old Student Threatens to Blow Up Miami Airport (MIA) After Losing Bitcoin Investment

  • The unnamed Indian teenager made at least 50 calls to the US Federeal Bureau of Investigation (FBI) regarding his stolen bitcoins.
  • A US-based fraudster allegedly stole the cryptocurrency from the teenager, who then threatened to blow up Miami's international airport (MIA).

The Hindustan Times has reported that an unnamed 18-year-old Indian citizen had threatened to blow up Miami, Florida’s international airport (MIA) because an American scammer had allegedly stolen $1,000 in bitcoin (BTC) from him.

The teenager reportedly blamed the US Federal Bureau of Investigation (FBI) for its “uncooperative stance” as the intelligence and security service failed to help him recover his bitcoins from the US-based fraudster that he “encountered in a chat forum.”

According to local news outlets, the teenager is a resident of the Northern Indian state of Uttar Pradesh and had called the FBI about 50 times in October regarding the alleged theft.

Meeting Fraudster In Online Chatroom

Presumably after not being satisfied with the law enforcement agency’s response, the class 12 student called Miami Airport and threatened to blow it up. The teenager claimed that a US citizen he met in an online chatroom promised him huge profits if he invested his bitcoins in a promising investment scheme.

Despite the serious nature of the offense, Uttar Pradesh’s director general of police (DGP), OP Singh, said the teenager will not be arrested and his identity will not be disclosed because he is only 18 years old.

Although most countries, including India, consider people 18 years and older to be of legal age - meaning that they may be prosecuted as an adult, it is unclear why Indian authorities did not take the offender into police custody.

However, the teenager has been charged with multiple violations of the Indian Penal Code including “impersonation/issuing threats”, and for making threatening phone calls via the internet to the FBI and Miami international airport’s staff (under India’s IT Act).

Additionally, a first information report (FIR) has been lodged against the accused.

Equipped With "AK-47 Assault Rifle", "Suicide Belt", "Grenades"

Notably, a police investigation revealed that the teenager is actually a “bright student” and had made at least 50 phone calls to the FBI between the dates of October 2nd and October 31st. The Indian student also used a fake email account and a fake identity while making the calls, however, local authorities were able to track down the threatening activity.

According to Uttar Pradesh’s police department, the offender had threatened to barge into Miami’s airport with an “AK-47 assault rifle, grenades, and a suicide belt.”

Indian authorities reportedly began investigating the serious threats after the FBI contacted India’s National Investigation Agency (NIA) and asked that the caller be tracked down. After locating the teenager, the nation’s anti-terrorism squad learned that the boy’s father had given him $1,000 to invest in bitcoin.

UK's Regulator Warns Against Fraudulent Firm Cloning Financial Giant TP ICAP

The UK’s financial regulator, the Financial Conduct Authority (FCA), has uncovered another allegedly fraudulent crypto-related scheme.

On Friday (May 24, 2019), the FCA revealed that a company called ICAP Crypto had been impersonating an established firm known as ICAP Europe Limited. ICAP Crypto reportedly attempted to lure unsuspecting investors into a potential scam involving cryptocurrencies.

Using Company Details Belonging to Legitimate Financial Firms

While ICAP Crypto’s management does not claim its services are regulated by the FCA, the allegedly fraudulent firm has been using the company details that belong to legitimate UK-registered financial service providers.

The FCA has warned that the potential scammers operating ICAP Crypto may be using the company license information of established firms in order to lure investors into investing into a fraudulent crypto scheme.

According to the FCA, ICAP Crypto has provided contact information which may be “mixed” with details that belong to TP ICAP, one of the largest global interdealer brokers. Moreover, the FCA cautioned users that ICAP Crypto has launched a website that is not licensed by the FCA to offer financial services.

No Details Regarding Crypto Services

There’s also no association between the management and services provided by TP ICAP and ICAP Crypto, the UK’s financial regulator clarified. Furthermore, the FCA’s investigation has revealed that ICAP Crypto appears to be offering various crypto-related services including a platform to launch initial coin offerings (ICOs).

Although ICAP Crypto seems to be offering several different cryptocurrency-related products, the FCA found that the allegedly fraudulent firm has not provided any specific details regarding its services.

ICAP Crypto’s management states that its services include “a sophisticated blend of engineering with experience to empower thousands of marketers to access markets around the world through the use of digital currency entirely outside the traditional financial system.” However, it remains unclear what type of services the company actually offers.

FCA Planning To Draft Comprehensive Crypto Regulations

In January 2019, the UK’s financial regulator called for increased regulatory oversight over the leading European nation’s cryptocurrency market. In order to create regulations for digital assets, the FCA launched a consultation which requested feedback regarding how to regulate crypto transactions.

The FCA had specifically asked for feedback on how to regulate crypto exchanges, digital asset payment processing services, wallet providers, and broker dealers offering crypto derivatives.