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    One Million Dollars Stolen In Cryptocurrencies

    A 19 year old suspected internet scammer was arrested in California for various allegations of fraud. The young man is accused of stealing 1 million dollars in cryptocurrencies using SIM swapping. On December 5, police arrested the teenager in California, after ransacking his New York apartment and extradited him to his home state in New York. Various US media have now reported on the case.

    Advantage Of 2-Factor Authentication For SIM Swapping

    The 19 year old took advantage of 2-factor authentication for SIM swapping. He first transferred the victims phone numbers to his own iPhones. Then he reset the passwords of their accounts. These included their Gmail, Yahoo and Dropbox accounts. Within the accounts, he then searched for access data to crypto wallets and cleared them out. Meanwhile, the iPhones of those affected suddenly went offline and the perpetrator was able to use the private data without being disturbed. According to the persecution authorities, he specifically identified people who work in lucrative industries and are highly likely to invest in Bitcoin.

    cryptocurrencies stolen

    The investigators searched the young man’s cell phone and found connections to the victims. Then a handwritten note appeared that burdened the teenager. The unemployed man is said to have bought luxury goods, such as two watches and a wallet. However, the investigators found most of the cryptocurrencies on his wallet, to which they could gain access.

    Third SIM Card Swap In A Few Months

    The SIM swapping scam is still very popular. The prosecutor complained that this was already the third major case of fraud in his administrative area within a few months.

    The accused must now face the Manhattan Supreme Court. The authorities accuse him of using the so-called SIM card swap fraud method in many cases. On December, the New York prosecutor filed charges of identity theft, computer manipulation and other similar offenses. His trial begins in January.

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