An Ile-Ife Senior Magistrates’ Court in Osun state on Tuesday remanded a teenager, Iwaku Olatunji, for alleged unlawful withdrawal of four million Naira from a Bitcoin account.
The prosecutor, Inspector Elijah Adesina, told the court that the defendant, 19, committed the offence sometime in October at 1:30 a.m on Parakin Estate, Ile-Ife.
Adesina said that the defendant broke into the house of one Mr Kingsley Emmanuel with the intent to commit a crime.
According to him, the defendant stole an iPhone XR valued at N220,000 and fraudulently withdrew four million Naira (equivalent of $5,000) from BTC account belonging to Emmanuel.
The prosecutor said that the offences contravened Sections 410 and 412 of the Criminal Code, Laws of Osun, 2002.
The defendant, however, pleaded not guilty to the three-count charge.
Magistrate Olusola Aluko refused an oral application for bail of the defendant.
The magistrate ordered defence counsel, Mr Reuben Abeginigo, to have a written application.
Aluko ordered the remand of the defendant pending the outcome of the bail application and adjourned the case until January 25, for hearing.
A bitcoin wallet is a program where you can manage your bitcoin. This can be done from your cellphone or computer. Buying and selling starts by creating a wallet.
Via NAN.
