Man Sentenced to 12 Years in Prison for SIM Swapping to Steal $22 Million in Crypto

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PANews
07-12
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PANews reported on July 12 that, according to Techinasia, 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 case against Michael Terpin, CEO of blockchain consulting company Transform Group. The fraud involved tricking telecom employees into transferring 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.

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