A Canadian Teen Was Arrested in a $36.5M SIM-Swap Heist


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In a “kids these days” for the record books, a Canadian teen was arrested this week for allegedly stealing $36.5 million worth of cryptocurrency from a single US victim. That's the largest theft of its kind. As with so many youth-related cryptocurrency thefts lately, the apparent method was a so-called SIM-swap attack, in which the culprit transfers a target's phone number to their own device, enabling them to intercept SMS-based two-factor authentication codes. There are ways to protect yourself against a SIM-swap, but no guaranteed way to stop them; even Jack Dorsey's own Twitter account fell to the method. In this case, investigators allege that the teen used their their haul in part to purchase a high-value gamer tag, which are popular items in the SIM-swap community.

Or maybe this is the better article to link to https://www.bloomberg.com/news/articles/2021-11-17/canadian-teen-arrested-in-crypto-theft-worth-36-5-million

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