Man Who Lost $800K of Bitcoin Sues Parents of Alleged Teenage Thieves

Two teenagers are accused of stealing $800,000. A man is now suing their parents.

According to court documents, Andrew Schober, a Colorado resident, had 16 of his stash stolen in a malware attack in 2018. It was valued at approximately $220,000 and represented 95% of Schober’s net wealth at the time.

The cryptocurrency disappeared after Schober downloaded a dodgy cryptocurrency app from Reddit, which was allegedly created by two minors, Benedict Thompson and Oliver Read, court documents say . According to the filing, the wallet then transferred Schober’s funds from one Bitcoin address to another.

Schober spent $10,000 to conduct an investigation. He also tracked down the Bitcoin to two teenage boys in the U.K. according documents. Both Thompson and Read studied computer science at top universities in the U.K., according to filing notes.

According to the court document, “The installation of Malware on Mr. Schober’s computer and subsequent theft of Mr. Schober’s cryptocurrency were devastating for Mr. Schober.”

“He didn’t eat or sleep for several days and has been suffering from severe distress for the last three years.” It also states that Mr. Schober planned to use the profits from the eventual sale of cryptocurrency to finance his home and to support his family.

Schober wrote then a letter to Read’s parents, asking for the money back. He wrote, “Your son is clearly a very intelligent young person,” in 2018. He wrote in 2018: “I don’t want him to lose his future.”

Schober sued the parents of the teenagers, but the letter was ignored. The document states that the defendants refused to give Mr. Schober his cryptocurrency back because they didn’t respond to him.

Since then, the parents of the teens responded. They argued that the ‘three-year statutes of limitations apply’, meaning that Schober has no time to file legal action.

The parents deny that their sons took Bitcoin. It has since risen in value by 600%.