I. Bonifacic@igorbonifacicNovember 18th, 2021In this article: FBI, news, gear, theft, law enforcement, bitcoin, cryptocurrencyEdgar Su / reuters
Police in Canada say they lately arrested a teenager who allegedly stole $46 million CAD (about $36.5 million) worth of cryptocurrency from a solitary specific in the US. According to authorities in Hamilton, Ontario, a town about a person hour west of Toronto, the incident is the premier-ever cryptocurrency theft involving just one particular person.
The proprietor of the currency was the target of a SIM swap attack. Their cellphone selection was hijacked and used to intercept two-element authentication requests, thereby letting entry to their safeguarded accounts. Some of the stolen revenue was utilized to buy a “rare” on the net gaming username, which at some point permitted the Hamilton Police Company, as perfectly as FBI and US Secret Assistance Electronic Crimes Endeavor Power, to discover the account holder. Police seized approximately $7 million CAD ($5.5 million) in stolen cryptocurrency when they arrested the teenager.
2021 has been a banner year for crypto thefts. In June, investors in South Africa shed practically $3.6 billion in Bitcoin when the founders of just one of the country’s greatest cryptocurrency exchanges disappeared. That very same month, police in the United kingdom seized close to $158 million in numerous digital currencies. At the time, it was the most significant seizure of its type in the country’s heritage.
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