Man's Sentence Increased to 12 Years for SIM Swap Theft of $22.00 Million in Cryptocurrency

Recently, U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's sentence to 12 years due to his failure to fulfill an agreement to pay $20.40 million in restitution to victims. Truglia pleaded guilty in 2021, admitting to participating in the fraud against Michael Terpin, CEO of blockchain consulting firm Transform Group. The scheme involved deceiving telecommunications company employees into transferring Terpin's phone number to a SIM card controlled by hackers, thereby gaining access to his cryptocurrency accounts. Truglia was responsible for converting the stolen funds into **Bitcoin**. (TechinAsia) [Odaily Planet Daily]