Category Archives: Michael Terpin

NY Man Pleads Guilty in $20 Million SIM Swap Theft

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A 24-year-old New York man who bragged about helping to steal more than $20 million worth of cryptocurrency from a technology executive has pleaded guilty to conspiracy to commit wire fraud. Nicholas Truglia was part of a group alleged to have stolen more than $100 million from cryptocurrency investors using fraudulent “SIM swaps,” scams in which identity thieves hijack a target’s mobile phone number and use that to wrest control over the victim’s online identities. Continue reading NY Man Pleads Guilty in $20 Million SIM Swap Theft→

Senators Prod FCC to Act on SIM Swapping

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Crooks have stolen tens of millions of dollars and other valuable commodities from thousands of consumers via “SIM swapping,” a particularly invasive form of fraud that involves tricking a target’s mobile carrier into transferring someone’s wireless service to a device they control. But the U.S. Federal Communications Commission (FCC), the entity responsible for overseeing wireless industry practices, has so far remained largely silent on the matter. Now, a cadre of Senate lawmakers is demanding to know what, if anything, the agency might be doing to track and combat SIM swapping. Continue reading Senators Prod FCC to Act on SIM Swapping→

“Stole $24 Million But Still Can’t Keep a Friend”

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Unsettling new claims have emerged about Nicholas Truglia, a 21-year-old Manhattan resident accused of hijacking cell phone accounts to steal tens of millions of dollars in cryptocurrencies from victims. The lurid details, made public in a civil lawsuit filed this week by one of his alleged victims, paints a chilling picture of a man addicted to thievery and all its trappings. The documents suggest that Truglia stole from his father and even a dead man — all the while lamenting that his fabulous new wealth brought him nothing but misery. Continue reading “Stole $24 Million But Still Can’t Keep a Friend”→

AT&T Faces $224M Legal Challenge Over SIM-Jacking Rings

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Cryptocurrency angel investor Michael Terpin seeks damages for “gross negligence” by the carrier, alleging it turned a blind eye to store employees’ malicious activities. Continue reading AT&T Faces $224M Legal Challenge Over SIM-Jacking Rings→

Hanging Up on Mobile in the Name of Security

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An entrepreneur and virtual currency investor is suing AT&T for $224 million, claiming the wireless provider was negligent when it failed to prevent thieves from hijacking his mobile account and stealing millions of dollars in cryptocurrencies. Increasingly frequent, high-profile attacks like these are prompting some experts to say the surest way to safeguard one’s online accounts may be to disconnect them from the mobile providers entirely. Continue reading Hanging Up on Mobile in the Name of Security→