A 21-Year-Old Hacker has been Jailed for 10 Years After Stealing $7.5M US Dollars in Crypto By Circumventing Cell Phones

Ninjas, when you are not careful with your asset, hackers are there to make you lose all. We hear a series of theft every day on crypto and the best and only way is to protect yourself all the time.

The prosecutors in Santa Clara, California announced via a press release that a 21 years old hacker named Ortiz has been sentenced to 10 years in prison after he pleaded guilty to theft. He is believed to be one of the first people in the US to be convicted of crypto theft.

Per the press release, Ortiz stole more than $7.5 Million US dollars from a minimum of 40 victims. It was also reported that he spent $10,000 US dollars a time at nightclubs in LA, also hired a helicopter to fly him and his friends to a music festival as well as buying top end fashion wears from top designers like Gucci.

The prosecutor also notes that one of Ortiz victim who is a crypto entrepreneur in Cupertino lost $5.2 US dollars. They described him as “prolific SIM swapper who targeted victims to steal cryptocurrency and to take over social media accounts with the goal of selling them for BTC’’.

Illegal SIM swaps allow fraudsters to hijack a target's phone's number and use it to steal financial data, passwords, cryptocurrencies and other items of value from victims.

Ortiz was detained at the Los Angeles International Airport last year, and investigators say they have only been able to recover $400,000 of the stolen funds. They believe the rest has either been hidden or spent.

Oritz had been sentenced on April 19 by a judge after two hearings where victims described the financial devastation caused by his crimes.

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