Man gets 12-year prison sentence for stealing $22 million in crypto using SIM swap

Odaily Planet Daily News Recently, U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's sentence to 12 years for failing to fulfill an agreement to pay $20.4 million in compensation to victims. Truglia pleaded guilty in 2021 and admitted to participating in the fraud against Michael Terpin, CEO of blockchain consulting firm Transform Group. The scheme gained access to Terpin's cryptocurrency account by deceiving telecommunications company employees into transferring Terpin's phone number to a SIM card controlled by hackers. Truglia was responsible for converting the stolen funds into Bitcoin. (TechinAsia)