A cryptocurrency scammer who stole more than $20 million in cryptocurrencies now faces an 18-month prison sentence.
The offender duped Michael Terpin, a blockchain advisor, by using the SIM switching method.
The arrest of Nicholas Truglia was officially announced by the US Department of Justice.
According to the DOJ’s official report, Nicholas Truglia and his associates used a sophisticated SIM swap scheme to steal a staggering amount of cryptocurrency from the victim.
Over $20 million worth of cryptocurrency is stolen by a scammer!
The most recent report from Engadget claims that 25-year-old Truglia is a SIM-swapping gang member.
According to the DOJ and other submissions and declarations made in court, Truglia entered a plea of guilty to Count One of the Indictment.
According to authorities, a SIM-swapping group approached Truglia to change Terpin’s Trigger tokens into Bitcoin.
After breaking into the victim’s mobile device in 2018, they did this. At the time of publication, only Truglia was charged with a crime.
The SIM swapping group still has other members missing. If you’re wondering why the cryptocurrency scammer only faces an 18-month sentence, the DOJ explained that it’s because the bad guy has autism.
This was supported by defence lawyer Jeffrey Udell, who claimed that the man’s autism made it more difficult for him to comprehend the effects of his deception on the actual world.
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Tips for Preventing SIM Swapping Scam
Williams asserted that Truglia’s sentence demonstrates that fraudsters will still be prosecuted, regardless of how intricate the theft is.
Despite the DOJ’s aggressive efforts to apprehend cybercriminals, it would be preferable if you could avoid being a victim.
Keep in mind that prevention is always preferable to treatment. This holds true for everything, including falling prey to fraud.
Here are some pointers on how to stay clear of SIM-swapping fraud to assist you:
- Always inquire about the Port Freeze and Number Lock features offered by your service provider.
- Don’t transmit or post too much personal information online.
- Always rely on security mechanisms to safeguard your SIM, like passwords, PINs, facial recognition, fingerprint scanners, etc.
There are still several scamming campaigns taking place all over the world. Because of this, it’s crucial to be aware of effective anti-scam strategies.
The FBI issued a recent warning regarding the crypto ATM scam.
A 17-year-old created a fake website in the UK to steal money and purchase cryptocurrencies.
Always keep a tab open on TechTimes for more news updates on cryptocurrency scams and other related cybersecurity threats.