04/02/19 11:55 UTC-4

SIM Swap Hacker Gets 10 Years in Prison for Stealing $ 5 Million in cryptocurrency

A California hacker was sentenced to 10 years in prison for using SIM swapping to steal more than $ 5 million in cryptocurrency, as reported by the Motherboard news agency.

Joel Ortiz, a 20-year-old student at the California Technical College, was accused of stealing a crypto-asset worth more than $ 5 million. According to the police, the accused pleaded guilty and was sentenced to 10 years in prison.

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SIM swapping and hacking cryptocurrency wallets

Almost 40 users of crypto-assets suffered from the illegal replacement of SIM cards (SIM swapping) by Joel Ortiz. According to the local authorities, this is the first time that a person has been convicted for "SIM swapping".

Last Thursday, the Deputy Prosecutor of Santa Clara County confirmed the information that the accused admitted his guilt and told law enforcement officers about all the hacks.

"We believe that justice has triumphed. And hopefully this case will serve as a lesson for the cryptographic fraudsters community." – Samy Tarazi, the law enforcement officer who investigated the Ortiz case.

Recall that the convicted Joel Ortiz was arrested in July 2018. He was detained due to the "series of hacker attacks targeted at cryptocurrency owners." As it became known, Ortiz used "SIM swapping". Initially, the attacker hacked the victim's SIM card, then completely established control over her mobile phone and all data, including access to two-factor authentication of crypto-wallets.

Interesting in the section: Overview of wallets for storing cryptocurrency

SIM Swap Hacker Gets 10 Years in Prison for Stealing $5 Million in cryptocurrency. According to the investigation, almost all the victims were guests of the Consensus conference (New York), where it was allegedly hacked numbers.

Editor: Alyona Nabok

See also: "The director of the Binance said that Amazon could release its cryptocurrency"

#cryptocurrency #wallet #USA #California #court #SIMswapping #cryptocurrency #theft #cryptocurrencywallet



17/05/19 06:00 UTC-4

#DropGold Bitcoin movement is now on American TV channels

​On May 16, it was reported that the popular American TV channels, National Geographic and Fox News, will broadcast a video ad for the DropGold movement. As it became known, the project was financed by Grayscale Investments and Barry Silbert.

03/05/19 09:00 UTC-4

Vitalik Buterin: Ethereum for people!

​On May 3rd, the Ethereum cryptocurrency developer stated that Ethereum coins are intended primarily for ordinary people. According to Vitalik Buterin, cryptocurrencies should become easier and more reliable.

20/05/19 10:08 UTC-4

WhatsApp messenger now supports Bitcoin and Litecoin payments

​On Sunday, May 19th, developers from the Zulu Republic team reported on the implementation of a special bot for crypto transactions inside the WhatsApp messenger. Now the WhatsApp network can make payments in Bitcoins and Litecoin.

Hypes, funds, fiat money