Hacker Steals $1 Million In Cryptocurrency

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A 21-year-old hacker hailing from Manhattan, was able to steal about $1 million in cryptocurrency, with his SIM-swapping hacking scheme.

According to the New York Post, Nicholas Truglia hacked into the phones of Silicon Valley executives to try to steal their cryptocurrency — and in one instance, pulled it off.

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Sim-Swapping Hacking Scheme

For those who don’t know, the SIM-swapping hacking technique involves a notorious person persuading the customer care representatives to port a number to his/her device. As soon as this happens, the hacker gets access to 2FA codes on various accounts and is able to get all the information related to different accounts.

What happened?

Truglia stole $1 million from Robert Ross in the SIM-swapping scheme, according to the New York Post.

Ross watched helplessly on Oct. 26 as his phone went dark and $500,000 in a Coinbase account and another $500,000 in a Gemini account vanished in seconds. The 21-year-old hacker  allegedly converted the cash to cryptocurrency and moved it into his personal account.

$300,000 was recovered from a hardware cryptocurrency wallet found in his apartment and it’s worth noting that Truglia was also targeting 5 other executives from the area as well, but he wasn’t able to score anything from others. However, he was able to hack their smartphones.

                                                                  IMAGE SOURCE : NEW YORK POST

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