Thanks to a well-established scam, a young Canadian managed to steal $ 36.5 million in cryptocurrency from an individual. His method is based on the SIM Swap, a technique that involves taking control of a person’s SIM card by asking their operator to provide them with a new one, reports Phonandroid.
A SIM card scam
At first, the scammer managed to obtain a lot of personal information about his victim, which allowed him to start ordering a new SIM card. He was then able to access the codes used during the double authentication by SMS.
He was then able to hijack his victim’s cryptocurrency wallet. With a total of $ 36.5 million stolen from a single person who lives in the United States, this cryptocurrency theft is the largest ever committed against an individual, according to the Hamilton police report.
The thief arrested
As part of an investigation conducted by the Electronic Crimes Task Force (ECTF) and the FBI, the authorities realized that the money stolen had been used in particular to buy a username in a multiplayer video game.
This recklessness allowed investigators to trace back to the young man who was arrested. For now, the police have however managed to get their hands on a very small part of the loot. The young Canadian will have to answer for his actions in court.