$20 Million Crypto Scam Using Sim-Swap!

The post $20 Million Crypto Scam Using Sim-Swap! appeared first on Coinpedia Fintech News

A 26-year-old man from Pennsylvania has been sentenced to three years in prison for stealing $20 million worth of cryptocurrencies using the SIM-swap technique. Anthony Faulk used the technique to gain access to his victims’ mobile phone accounts and then to their crypto wallets. Once inside, he was able to transfer the funds to his own accounts. Faulk is one of many people who have used this technique to steal cryptocurrencies in recent years, and law enforcement officials are increasing their efforts to crack down on this type of cybercrime.