Police Arrest Japanese Man Who Bought Bitcoin With Stolen Funds

Tokyo police have arrested a man accused of buying bitcoin with stolen money.

AccessTimeIconNov 3, 2016 at 6:01 p.m. UTC
Updated Dec 10, 2022 at 9:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A Japanese man has reportedly been arrested and charged with computer fraud after allegedly stealing thousands of dollars from a local woman and using the funds to buy bitcoin.

media reportshttp://www3.nhk.or.jp/news/html/20161103/k10010754661000.html that 33-year-old Ryota Fujii committed identity fraud by using the unnamed woman’s personal ID information to purchase ¥600,000 (roughly $6,000 at press time) worth of bitcoin by way of a fraudulently obtained credit card. Those sources say it’s the first case of its kind to take place in Japan.

The suspect is said to have claimed that he stole the funds in order to settle outstanding debts against him.

“I had debts to pay back,” Fujii reportedly said.

Fujii allegedly pretended to be a money lender, setting up a fictitious account through which to funnel the funds. He then used that money to purchase bitcoin, according to local sources. The incident allegedly took place in January, the Tokyo Metropolitan Police told reporters.

Image via Shutterstock

This piece has been updated for clarity.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.