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NY’s Bitcoin Bandit ordered to pay $75M to SIM-swap victim

Monday, May 13, 2019 by Piyush Suthar | Comments

Home News Tech NY’s Bitcoin Bandit ordered to pay $75M to SIM-swap victim

Michael Terpin, the Bitcoin investor who had $24 million worth of cryptocurrency stolen from him in a SIM-swapping hack, has been awarded a payout three-times the size of his original loss. Los Angeles Superior Court has ordered New York-based Bitcoin Bandit Nicholas Truglia to pay Terpin $74.8 million in compensation, Reuters reports. Truglia and his gang of 25 accomplices used SIM-swapping to gain access to and control Terpin’s cryptocurrency accounts in early 2018. The gang drained his accounts of 3 million tokens of an unnamed digital asset. Terpin logged his case against Truglia in January this year, and is still…

This story continues at The Next Web

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Authored by Piyush Suthar
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