Man Sentenced to 12 Years in Prison for Stealing $22 Million in Cryptocurrency Through SIM Swap
On July 12, it was reported that U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's sentence to 12 years due to his failure to fulfill the agreement to pay $20.4 million in restitution to the victim. Truglia pleaded guilty in 2021, admitting his involvement in defrauding Michael Terpin, CEO of blockchain consulting firm Transform Group. The scheme involved deceiving telecom company employees into transferring Terpin's phone number to a SIM card controlled by hackers, thereby gaining access to his cryptocurrency accounts. Truglia was responsible for converting the stolen funds into Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Swedish payment giant Klarna's first stablecoin, KlarnaUSD, has been launched ahead of schedule
Bitcoin OG opens 5x ETH short position worth $15.04 million
Current mainstream CEX and DEX funding rates indicate the market remains broadly bearish
The Crypto Fear Index rises to 28, escaping the "Extreme Fear" zone
Trending news
MoreCrypto prices
More
