Student Faces Charges for Stealing $5 Million in Crypto via “SIM Jacking”
Motherboard has reportedly obtained court documents pertaining to the arrest of Joel Ortiz, a 20-year-old from Boston, who is accused of stealing $5 million USD in bitcoin and other cryptocurrencies. Mr. Ortiz and his currently unidentified accomplices stole crypto from roughly 40 victims through a hacking technique known as “SIM jacking.”
20-Year-Old Arrested For Part in Theft of $5 Million in Crypto
It has been reported that on the 12th of July, Californian police arrested a college student accused of being part of a group of criminals responsible for the theft of more than $5 million in cryptocurrencies.
Mr. Ortiz was reportedly arrested at Los Angeles International Airport whilst on his way to Europe donning a Gucci bag presumed to have been paid for with stolen money. The 20-year-old now faces 28 charges, including 13 counts of hacking, 13 counts of identity theft, and 2 counts of grand theft.
Ortiz is currently in jail awaiting his plea hearing on August 9th. His bail was set at $1 million.
First Reported Instance of Crypto Stolen Through ‘SIM Jacking’
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