Sim-swapping

is quite popular way of stealing crypto assets nowadays, hackers just need to get hold of cell phone users’ personal info, and voilà, the money is gone. Same story happened to a well-off Silicon Valley executive, Robert Ross, who had lost $1 million from his accounts.

According to

Mr. Ross’s words

, his mobile phone had gone dark, he found it very suspicious, so he turned to REACT, California-based task force to deal with such frauds.

Allegedly, the main suspect is a 21-year-old New-Yorker, Nicholas Truglia, who hacked 6 cell phones and succeeded in stealing $1 million from one of them. The money was taken from Robert’s accounts on Gemini and Coinbase crypto exchanges.

Mr. Truglia is being held in Manhattan waiting to be extradited to California, where he will stand trial on 21 felony counts.

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