Canadian police arrest teen for stealing $36.5 million in cryptocurrency

Stefan Mileschin · 19th November 2021, 08:37

Police in Canada say they recently arrested a teen who allegedly stole $46 million CAD (approximately $36.5 million) worth of cryptocurrency from a single individual in the US. According to authorities in Hamilton, Ontario, a city about one hour west of Toronto, the incident is the largest-ever cryptocurrency theft involving one person.

The owner of the currency was the victim of a SIM swap attack. Their cellphone number was hijacked and used to intercept two-factor authentication requests, thereby allowing access to their protected accounts. Some of the stolen money was used to purchase a “rare” online gaming username, which eventually allowed the Hamilton Police Service, as well as FBI and US Secret Service Electronic Crimes Task Force, to identify the account holder. Police seized approximately $7 million CAD ($5.5 million) in stolen cryptocurrency when they arrested the teen.

https://www.engadget.com/canada-cryp...2.html?src=rss

19th November 2021, 08:37	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,769	Canadian police arrest teen for stealing $36.5 million in cryptocurrency Police in Canada say they recently arrested a teen who allegedly stole $46 million CAD (approximately $36.5 million) worth of cryptocurrency from a single individual in the US. According to authorities in Hamilton, Ontario, a city about one hour west of Toronto, the incident is the largest-ever cryptocurrency theft involving one person. The owner of the currency was the victim of a SIM swap attack. Their cellphone number was hijacked and used to intercept two-factor authentication requests, thereby allowing access to their protected accounts. Some of the stolen money was used to purchase a “rare” online gaming username, which eventually allowed the Hamilton Police Service, as well as FBI and US Secret Service Electronic Crimes Task Force, to identify the account holder. Police seized approximately $7 million CAD ($5.5 million) in stolen cryptocurrency when they arrested the teen. https://www.engadget.com/canada-cryp...2.html?src=rss

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Ukraine police arrest major ransomware gang	Stefan Mileschin	WebNews	0	22nd June 2021 07:45
Canadian police charged a Tesla owner for sleeping while driving	Stefan Mileschin	WebNews	0	21st September 2020 10:10
Apple’s facial recognition led to teen’s arrest	Stefan Mileschin	WebNews	0	30th April 2019 04:22
Canadian cryptocurrency loses $137 million	Stefan Mileschin	WebNews	0	6th February 2019 08:16
Fitbit data helps police arrest another murder suspect	Stefan Mileschin	WebNews	0	5th October 2018 11:54
Hackers are stealing millions in cryptocurrency during ICOs	Stefan Mileschin	WebNews	0	24th January 2018 18:03
Local Canadian police station admits it owns a Stingray	Stefan Mileschin	WebNews	0	15th August 2016 13:59
UK police arrest teenager over recent US government hacks	Stefan Mileschin	WebNews	0	13th February 2016 07:23
Canadian anti-piracy company Canipre is caught stealing photos	Stefan Mileschin	WebNews	0	16th May 2013 06:54
Police arrest Anonymous hacker	Stefan Mileschin	WebNews	0	8th November 2012 06:16