Teenager arrested for involving in a theft of $36.5 million cryptocurrency

A Teenager from Canada has been arrested for his involvement in a theft of $36.5 million cryptocurrency from an American. Hamilton Police in Ontario disclosed this news after a joint investigation with the FBI and US Secret Service Electronic Crimes Task Force.

The teenager has used the SIM swapping technique to steal the cryptocurrency. SIM swapping. This technique can bypass the 2FA by manipulating the cellular networks.

“As a result of the SIM swap attack, approximately $46 million CAD worth of cryptocurrency was stolen from the victim. This is currently the biggest cryptocurrency theft reported from one person.” – Hamilton Poilce

Also, after the arrest the police had identified that the stolen cryptocurrency was used for some online purchases. Later the transaction was used to track back the original account holder of that user.  Also, this has been named as the biggest cryptocurrency theft in Canada and the case is now with the Canadian Courts.

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