Man Sentenced to 12 Years in Prison for Stealing $22 million Cryptocurrency in SIM Swap
2025-07-12 02:41:30
U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's sentence to 12 years for failing to honor an agreement to pay $20.40 million in restitution to victims. Truglia pleaded guilty in 2021 to participating in a fraud against Michael Terpin, CEO of blockchain consulting firm Transform Group. The scheme gained access to Terpin's cryptocurrency accounts by tricking telecom company employees into transferring his phone number to a hacker-controlled SIM card. Truglia was responsible for converting the stolen funds into bitcoin.
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