A Guy Steals $5 Million in Bitcoin with SIM Swapping

pepeg

Contributor
Through swapping people's SIM of their mobile phone, this guy Joel Ortiz managed to pilfer more than $5 million in Bitcoin from crypto wallets in California, and it's hardly the first case of such stealing!

20-Year-Old College Student Sentenced to 10 Years in Prison for SIM Hacking and Stealing Bitcoin | AllStocks Network

This just shows that companies that operate crypto wallets and even big companies like Apple and Google should invest more in securing people's mobile devices and wallets. Today, smartphone are essential in people's lives and we need more safety and security using them!
 

The CC Forums

Admin
Staff member
Through swapping people's SIM of their mobile phone, this guy Joel Ortiz managed to pilfer more than $5 million in Bitcoin from crypto wallets in California, and it's hardly the first case of such stealing!

20-Year-Old College Student Sentenced to 10 Years in Prison for SIM Hacking and Stealing Bitcoin | AllStocks Network

This just shows that companies that operate crypto wallets and even big companies like Apple and Google should invest more in securing people's mobile devices and wallets. Today, smartphone are essential in people's lives and we need more safety and security using them!
This SIM swapping scam isn’t limited to crypto. An acquaintance of mine was just scammed out of tens of thousands when someone monitored his accounts until they discovered he was traveling in another country.

They managed to convince AT&T to install a new SIM in a phone with his data on it and proceeded to raid checking accounts, take out loans and open credit card accounts.

Law enforcement traced the transactions, arrested the criminals and almost all funds were recovered. Still, crypto is just a tool for these scams, they’ve been around for years. Had my acquaintance used crypto instead of dollars, the money would likely have not been recovered.

Know where your devices are at all times. Use facial recognition, have strong passwords and don’t give out any info over the phone to anyone.
 

Vla

Contributor
The fact is that don't need to wait when someone will secure your smartphone, now there are many tools and ways to protect your phone, so do it and don't wait for anyone to protect you
 

Old Man Crypto

Expert chainblocker
“Several agents who have been investigating SIM swapping-related crimes were happy to hear of Ortiz’s conviction. They opined that this will send a message to other SIM hackers out there that they are being tracked even to their basement and their mothers’ home. Speaking on Ortiz’s conviction, Samy Tarazi, one of the agents who worked hard to track Ortiz, expressed excitement over the conviction and stated that Ortiz’s case will send a strong message to the community of SIM hackers. In addition, the Deputy District Attorney asserted that each arrest made so far had sent shockwaves through the community of SIM hackers, making them aware that they are not safe even in their basements.”

A bit judgmental on the age thing there Agent Tarazi? Hackers don’t just live in the basement if their mother’s homes. Let’s not forget there are huge coordinated hacker networks working overseas 24/7 to steal your money. It’s not just the college student down the street.
 
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