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Crypto Fraudster Is Sentenced To 10 Years In US

20:54 04/02/2019
Crypto Fraudster Is Sentenced To 10 Years In US

California court sentenced Joel Ortiz, a student of an American college who admitted the charges of stealing over $5 million in cryptocurrency, to a ten-year prison term, Motherboard reports.


In general, about forty people were affected by the fraudulent actions of the 20-year-old student. The offender used the scheme with the SIM card swapping and thus obtained the personal data of crypto owners. The police reported that this scheme is becoming more common in the United States, and the sentence against the hacker who used SIM swapping, was the first in the country.


Law enforcement authorities approved the verdict and expressed the hope that this case will serve as a lesson for potential cybercriminals. Justice was served, and this is a powerful signal for the entire community, investigator Samy Tarazi stressed.


Hackers must understand that wherever they are, they will never feel safe, they will be discovered and arrested one after another, Santa Clara County Deputy Prosecutor Erin West stated.


Ortiz was arrested in the summer of 2018. Together with accomplices, he made a series of attacks on the accounts of crypto owners. Having gained access to their phone numbers, they used personal data, including keys and passwords, and were stealing digital assets.


Earlier, in 2018, Nicholas Truglia was arrested for stealing $1 million in cryptocurrency using SIM-cards.

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