A Hacker Who Stole $5 Million By Sim Swapping Gets 10 Years In Prison

More than $5 Million of cryptocurrency was stolen by a 20 year old college student, Joel Ortiz plead guilty to the crime for stealing from more than 40 victims and was sentenced to 10 years in prison as part of his plea.

Ortiz was arrested last year on charges of transferring millions of dollars in cryptocurrency from his victims with a Sim Swapping Method.

This methods allows the attacker to swap a legitimate user existing number to a new number which he has access to, and sim swapping method has been in the rise by cyber criminals and Ortiz is the first to be sentence for this crime.

Using this method the attacker already have personal information of the victim and he will call the Carrier Network of the victim convincing them to port the victim number to the attacker number providing the personal information he already acquired.

After a success sim swap, the attacker will be able to have the victim One Time Password (OTP), Verification Codes, and Two Factor Authorizations (2FA) either through a Text Messages or Phone Calls.

Joel Ortiz would be officially sentence on March 14th.

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