The US authorities have arrested a 19-year old individual who allegedly stole over 1 million dollars in cryptocurrency by using the so-called SIM swap scam technique.
The name of the defendant has been revealed to be Yousef Selassie – and he allegedly stole the identity of 75 different individuals in 20 different states so he could directly steal cryptocurrency from their crypto wallets using the above-mentioned SIM swapping technique, which involves gaining control of someone’s phone number in order to obtain passwords and other personal information so the thief can access their victims’ online accounts, crypto wallets and bank accounts.
Selassie apparently managed to do so over the course of four months before he was finally arrested.
All things considered, this guy was caught pretty quickly, other thefts and scam of that sort seem to go on for years before the authorities finally catch on.