A 21-year old man is arrested in his apartment in New York for stealing $1 million in crypto from SIM swapping in San Fransisco, Bay Area.
Remember the New York young executive who reported his friends to have tortured him to steal his crypto account credentials earlier this month?
The same guy who made the report is reported to have been arrested by San Fransisco authorities for stealing $1 million worth of crypto from executives in the Sillicon Valley area.
Nicholas Truglia successfully stole from Robert Ross by performing the SIM Swapping technique on October 26th, during which Ross’ phone was reported to become dark. He found out soon after that the $500,000 he had on Coinbase and Gemini suddenly vanished only within seconds.
Truglia, then, sent the money to his personal account and kept it on his hardware wallet, as reported by The New York Post.
He also reported to have conducted his action towards several other executives in the Bay Area, such as Sawata Basu, CEO of 0Chain, Myles Danielsen, VP of Hall Capital Partners, and Gabrielle Katsnelson, the co-founder of SMBX, however, none of them worked out.
He was arrested in his apartment in New York by Erin West, a member of Santa Clara REACT task force on November 14th. The team managed to recover $300,000 of the stolen funds from his hardware wallet.
Truglia is charged for conducting grand theft, altering or damaging computer data and using personal information without authorization, and currently being held at the Manhattan Detention Complex, while waiting for an extradition to Santa Clara.
SIM swapping is a pretty common way used by malicious people to steal from people as it’s pretty easy and doesn’t require specific technical skill.
Major telecommunication provider in the US, AT&T is currently facing multiple lawsuits from its users who suffered from SIM swap attacks.
One of them accused AT&T for “assisting SIM swapper” by “leaving holes in their security protocols and failing to properly train and monitor their employees”.