2 November 2024
Teen Charged For Stealing Millions From Crypto Investor
A crypto investor from the United States has accused a teen of stealing $23.8 million in digital currencies from him.
The case has been filed in Federal court in New York where plaintiff Michael Terpin (crypto investor) sued Ellis Pinsky along with his co-conspirators for robbing a huge amount of cryptocurrencies in January 2018.
plaintiff Michael Terpin is now asking for the damage of $71.4 million that is the triple of the amount in the stolen cryptocurrency. However, Pinksy is still in his teenage and studying in school and at the time when he committed the crime, he was just 15 years old.
“On the surface, Pinsky is an ‘All American Boy,” the court complaint stated. “The tables are now turned.”
According to the details published in the court, Pinksy with his co-conspirators used SIM swapping techniques to get access to the plaintiff’s smartphone that enabled him to steal millions in digital currencies.
SIM swapping is a commonly used technique for a heist. In this technique, the hacker initiates another person’s SIM card simply by calling the network operator and giving some basic details.
The cryptocurrency investor is now accusing the defendants of violating federal laws against racketeering and computer fraud.
Remarkably, Terpin also owned a $75.8 million civil judgment in a California court against Nicholas Truglia, which is a co-conspirator of Pinsky. He is also fighting against mobile carrier AT&T for allowing cryptocurrency thefts in a $24 million lawsuit but it seems that the judge could soon dismiss the case.
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