RATE Group | Alleged 19-Year-Old SIM Swapper Used Stolen Bitcoin to Buy Luxury Cars
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Alleged 19-Year-Old SIM Swapper Used Stolen Bitcoin to Buy Luxury Cars

23 Aug Alleged 19-Year-Old SIM Swapper Used Stolen Bitcoin to Buy Luxury Cars

Posted at 04:05h in Bitcoin News by

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Police in California arrested another hacker accused of hijacking phone numbers with the goal of stealing cryptocurrency on August 17.

Xzavyer Narvaez, 19, is accused of seven counts of computer crimes, identity fraud, and grand theft, according to a complaint obtained by Motherboard. Narvaez’s arrest comes approximately a month after that of Joel Ortiz, the first person in the US to ever be accused of hijacking phone numbers—a type of fraud also known as SIM swapping or “port out scam”—to steal Bitcoin. Earlier this month, Florida police arrested a 25-year-old also accused of being part of a group that stole Bitcoin through SIM swap hacks.

It appears that Narvaez spent some of the Bitcoin he stole on sports cars. Through DMV records, the police found that Narvaez purchased a 2018 McLaren paying partly in Bitcoin and partly by trading-in a 2012 Audi R8, which Narvaez purchased with Bitcoin in June 2017. The investigators obtained records from Bitcoin payment provider…

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