10 May Cryptocurrency Investor Sues Alleged SIM Card Hacker for $71 Million
A cryptocurrency investor has accused a teenager of commanding a crew of adolescent hackers into swiping millions from the alleged victim in a SIM swap ruse, according to a lawsuit filed in federal court in New York.
Angel investor Michael Terpin claims Ellis Pinksy at age 15 ran a ring of “evil computer geniuses with sociopathic traits” who “gleefully boasted of their multi-million-dollar heists.” Terpin, who founded BitAngels, an investor network for digital currency startups, and serves as chief executive of a blockchain advisory firm, is suing Pinsky for $71 million, three times damages as allowed under a federal racketeering law, Bloomberg reported. The legal filing describes Pinsky as, “on the surface… an ‘all American boy’ [who] lives a suburban life with a doting mother who is a prominent doctor.”
How Do SIM Card Swapper Hacker Attacks Work?
In a SIM (Subscriber Identification Module technology that authenticates a…