Since the inception of digital currency, the rate of cybercrime has been on the increase. Not a day goes by without notice of a threat. The latest in the case of cybercrime is in California, where Michael Terpin, an American cryptocurrency investor, is suing an Irvington senior, Ellis Pinsky, over theft of $23.8million in digital currency.
In the lawsuit, the investor claims that in 2018, when Pinsky was only fifteen years old, he and a “gang of digital bandits” robbed him of Millions after gaining access to his native wallet on his blackberry. Terpin is filing a lawsuit of $71.4 (triple the alleged amount stolen) against Pinsky.
In the complaint filed in a court in White Plains, New York, on May 7, Mr. Terpin said, “on the surface, Pinsky is an ‘All American Boy,’ but the tables are now turned.” He is sued for fraud and racketeering. So far, there’s no name of conspirators in this new lawsuit.
This is not the first lawsuit Mr. Terpin has filed against Pinsky and his cohorts. In May last year, he won a suit of $75.8 against Nicholas Truglia, an alleged Pinsky associate who has now faced cybercrime charges.
At the time of this heist, the school senior was living in a $1.3 million home. An insider told the New York Times that he told his parents the newfound fame was as a result of playing video games that gave Bitcoin. To his classmates, Pinsky was simply an unremarkable student who loved playing soccer.
Allegedly, the senior used the stolen money to purchase the stylish sneakers; travel in class with a private jet, and also purchase an Audi R8.
Reuters reports, “court records show that Terpin is also suing his carrier, AT&T Mobility in Los Angeles for $240m.”
Pinsky’s attorney, Noam Biale, told the New York Post: “Ellis was a child at the time of the alleged conduct. . . . It is regrettable that Mr. Terpin has chosen to bring [a] lawsuit, full of smears and baseless allegations, for no imaginable purpose other than spite.”