Man gets 12-year prison sentence for stealing $22 million in crypto using SIM swap

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ODAILY
07-12
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Planet News: Recently, U.S. District Judge Alvin Hellerstein extended Nicholas Truglia's sentence to 12 years because he failed to fulfill the agreement to pay $20.4 million in compensation to the victim. Truglia pleaded guilty in 2021, admitting his involvement in a fraud scheme targeting Michael Terpin, CEO of blockchain consulting firm Transform Group. The plan involved deceiving telecommunications company employees to transfer 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. (TechinAsia)

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