New York Resident Arrested over $1 million Cryptocurrency Theft

Nicholas Truglia, a 21-year-old Manhattan resident, is currently in police custody over his involvement in the theft of cryptocurrency worth $1 million. Truglia also stands accused of hacking the mobile devices of Silicon Valley executives in a bid to gain access to their crypto holdings illegally.

Cryptocurrency Theft Via Sim Swapping

According to NY Post, Truglia is currently a suspect in the theft of $1 million worth of cryptocurrency from the accounts of a Richard Ross.  Richard Ross who is a San Francisco resident had informed the police that on October 26 he lost access to his phone and a total of $1 million removed from his Coinbase and Gemini Accounts.

Apart from Ross, Truglia also gained access to the devices of some Silicon Valley executives. They include the VP of Hall Capital Partners, Co-Founder of SMBX and the CEO of a blockchain custodial service company. Giving details of the case, deputy DA Erin West, a member of the task force, said that Truglia gained access to…