21-Year-Old Arrested For SIM Swapping Hack; Allegedly Steals $1 Million

U.S. broadsheet the New York Post announced Nov. 20 regarding some authorities in the United State, state of California who have arrested a 21-year old New Yorker for the supposed burglary of $1 million in crypto utilizing “SIM-swapping,”

SIM-swapping otherwise called a “port-out scam” includes the burglary of a mobile phone number with the end goal to capture online financial and social media accounts, empowered by the way that numerous organizations utilize computerized messages or telephone calls to deal with client validation.

The captured suspect, Nicholas Truglia, is accused for having focused on well off Silicon Valley officials in the Bay Area, and of effectively convincing telecoms support staff to port six exploited people’s numbers to his an affirmed “crew” of accomplice attackers. Deputy DA Erin West, of Santa Clara Superior Court, told the Post that the ploy was “a new way of doing an old crime.”

“You’re sitting in your home, your phone is in front of you, and you suddenly become aware there is no service because the bad guy has taken control of your phone number,” West said.

With his capture on November 14, authorities were able to recover $300,000 in stolen reserves while the remaining assets remain untraced.

Trugila is currently being held at pending for extradition to Santa Clara, where he faces 21 felony counts related with an aggregate of six exploited people, authorities said. One of Truglia’s supposed SIM-swapping victims, San Francisco-based Robert Ross, was purportedly robbed of $500,000 worth of crypto possessions on his Coinbase wallet “in a flash” on Oct. 26, and in the meantime a further $500,000 was taken from his Gemini account. West said the $1,000,000 was Ross’ “life savings” and his two girls’ college fund.

This rising predominance of SIM swap-related occurrences has therefore provoked a California-based law enforcement group to make it their “most noteworthy need.” in excess of one prominent occasion, exploited people have acted to sue telecoms firms, for example, AT&T and T-Mobile for their help of the wrongdoing.

Truglia is since being held Manhattan Detaintion Complex pending extradition to Santa Clara in California. Formal charges identify with a seven-day “hacking spree” starting Oct. 8, particularly involving “grand theft, altering or damaging computer data with the intent to defraud and using personal information without authorization.”

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