RATE Group | First Cryptocurrency SIM Jacking Case Brought In California
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First Cryptocurrency SIM Jacking Case Brought In California

02 Aug First Cryptocurrency SIM Jacking Case Brought In California

Posted at 04:44h in Cryptocurrency News by

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In California, the first case has been brought against an alleged SIM hijacker charged with stealing over $5 million worth of cryptocurrency with the help of accomplices.

One unnamed cryptocurrency entrepreneur claims to have had $1.5 million in cryptocurrencies stolen while attending the Consensus blockchain conference in May 2018.

According to reports by Motherboard, a 20-year-old college student named Joel Ortiz allegedly worked with associates to steal cryptocurrency valued at $5 million from around 40 victims. Ortiz was arrested on July 12, 2018, by Californian police, under suspicion of hacking cell phones and stealing the cryptocurrency using a technique known as SIM swapping or SIM hijacking.

Ortiz faces 13 charges of identity theft, 13 counts of hacking, and two charges of grand theft. On top of stealing cryptocurrency, Ortiz and his associates are suspected of commandeering social media accounts with the intention to sell them for bitcoin on the internet.

The Californian case…

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