Crypto

Canada: thanks to the SIM card scam, teenager embezzes 32 million euros

According to Canadian authorities, the young man was guilty of the “largest theft of cryptocurrencies” carried out by a single person. It all started with a seemingly very simple scam.

If he hadn’t tried to use some of his loot to buy himself a rare username in a video game, this young man may never have been pinched.

In the province of Ontario in Canada, a young man has been arrested for stealing more than 32 million euros in cryptocurrencies using an extremely simple scam.

Confused by a video game

It was the Hamilton City Police Department that exposed the case. It all started in 2020 when the Hamilton Police launched an investigation, in collaboration with the FBI and a US Secret Service electronic crime group, following the report of a theft of more than $ 36.5 million in cryptocurrency.

Very quickly, the trail of a young man from Hamilton reappeared. The latter would have been identified when trying to buy, at a very high price, an unusual username in a video game.

Get your victim’s SIM card

To commit his loss, the young man used a very simple technique, but it paid off for him by targeting the right person. The young hacker first collected as much information as possible about his victim. He then impersonated the latter at his telephone operator to obtain a copy of his SIM card.

Thanks to this, he was able to access a cryptocurrency platform used by his victim whose wallet amounted to $ 36.5 million (32 million euros). According to the researchers, this is the largest cryptocurrency hijacking by a single person.

After tracing the trail of the young man, the police arrested him. The teenager had more than $ 5,000 with him and various possessions acquired thanks to his package. So far, only $ 5.53 million worth of cryptocurrencies has been recovered. Research is ongoing to find the full sum.

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