California police arrested teenager ‘SIM swapper’ who stole crypto from cell phone

California police arrested teenager ‘SIM swapper’ who stole crypto from cell phone

Police in California have arrested an alleged hacker who has stolen a total of $ 1 million Bitcoin (BTC) by hijacking cell phones, Security Investigator Cyber Crime Blog Krebs reported security on Wednesday, August 22.

Citing a police report, publication shows that 19-year-old Xzavyer Narvaez uses “SIM swapping”, also known as a technology “Port Out Scam”, which is used by victims’ devices Cryptocurrency stole In For many years, Narvaez and another suspect used money to buy goods like luxury sports cars.

From March to June 2018 alone, the account of Narvaez’s on the cryptocurrency Exchange, Bittrex processed 157 BTC (about $ 1,009,000).

According to a report reproduced by Krebs on Security, Narvaez used to use the same device several times to do the crimes, the publication briefly described it as “finally eliminated it”, “almost 28 SIM swaps were conducted using the employee ID number was over a period of two weeks in November 2017. ”

Further investigations revealed that the sim swapping underworld recognized the 19-year-old as “one of the best SIM swappers”.

Earlier in August, an American investor had filed a $ 224 million lawsuit against the telecommunications company AT & T for alleged negligence and claimed that $ 24 million in cryptocurrency was through the “digital identity theft” of its cell phone account.

In an interview with Bloomberg earlier this month, Lilia Infante, working at the Cyber Investigative Task Force in the US Drug Enforcement Administration (DEA), said the police report noted that investigators had used Bitcoin Blockchain So that “McLaren should be used to buy the Cryptocurrency exchanger back to a responsible account.”, Bitpay provided those records that used to identify bitcoin transactions in which vehicles were purchased. ”

In addition, DEA reported that the percentage of crimes related to bitcoin was dropped dramatically from 2013.

 

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *