CRYPTOCURRENCY INVESTOR WON $75 MILLION IN THE CASE OF COUNTERFEIT SIM-CARDS

American investor Michael Terpin won the case against Nicholas Truglia, who allegedly stole his crypto assets.

Last week, the California Supreme court ordered Manhattan resident Nicholas Truglia to pay investor Michael Terpin $75.8 million in compensation. As previously reported, Terpin filed a complaint against Truglia in late December, a few months after filing a lawsuit against the telecommunications giant AT&T for assisting criminals in the theft of its crypto assets.

According to the statement, Truglia and other participants in the fraudulent scheme stole the crypto assets of Turpin, gaining control of his phone number. Truglia was arrested in November for stealing $1 million in cryptocurrencies, including by counterfeiting SIM cards.

In February of this year, the first person who was convicted of “SIM-swapping” – a method of hacking in which the offender “copies” the phone number of the victim to another SIM card – was an American student Joel Ortiz, who allegedly stole cryptocurrency worth more than $5 million. Ortiz pleaded guilty and was sentenced to ten years in prison.