According to a report from the New York Post, a 21-year-old man from Manhattan managed to steal about $1 million in Cryptocurrency using the SIM-swapping technique.
The young man, named Nicholas Truglia, carried out these activities from his apartment. He targeted and robbed Robert Ross, a Silicon Valley, according to officers.
For those who are not familiar with it, the hacking technique called SIM-swapping is carried out by an individual who convinces customer service representatives to transfer a mobile number to his device. Once this happens, the hacker gains access to 2FA codes and is able to obtain all information related to various accounts.
Truglia managed to wipe two accounts of Ross – each of them contained cryptocurrencies worth $500,000. It was reported that the total amount was his entire fortune. Truglia succeeded in transferring the cryptocurrencies to his own account.
It is worth noting that Truglia also targeted 5 more executives of Silicon Valley, but he failed to gain anything from them. However, they lost control of their smartphones.
The authorities were also able to recover $300,000 from one that was found in his apartment.
This is not Truglia's first encounter with law enforcement. In September, he called the police and accused four of his friends of forcing him to reveal his credentials for the cryptocurrency wallet.
