NY Man Pleads Guilty in $20 Million SIM Swap Theft

Credit to Author: BrianKrebs| Date: Thu, 16 Dec 2021 17:52:03 +0000

A 24-year-old New York man who bragged about helping to steal more than $20 million worth of cryptocurrency from a technology executive has pleaded guilty to conspiracy to commit wire fraud. Nicholas Truglia was part of a group alleged to have stolen more than $100 million from cryptocurrency investors using fraudulent “SIM swaps,” scams in which identity thieves hijack a target’s mobile phone number and use that to wrest control over the victim’s online identities.

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Busting SIM Swappers and SIM Swap Myths

Credit to Author: BrianKrebs| Date: Wed, 07 Nov 2018 05:49:37 +0000

KrebsOnSecurity recently had a chance to interview members of the REACT Task Force, a team of law enforcement officers and prosecutors based in Santa Clara, Calif. that has been tracking down individuals engaged in unauthorized “SIM swaps” — a complex form of mobile phone fraud that is often used to steal large amounts of cryptocurrencies and other items of value from victims. Snippets from that fascinating conversation are recounted below, and punctuated by accounts from a recent victim who lost more than $100,000 after his mobile phone number was hijacked.

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