19-year-old Montrealer accused of stealing $ 50M in cryptocurrencies

Credit: Pixabay – Montreal

A young Quebecers is accused of having stolen more than $ 50 million in crypto-currencies using the technique called " SIM-swap ".

A Montreal native, Samy Bensaci faces four criminal charges after a team of hackers tried to steal crypto-currencies of several cybersecurity experts, reports thestar.

The 19-year-old would be part of a network of cybercriminals using the method known as " SIM-swap "Or SIM card swap, aimed at gaining control of their victims' phone numbers to gain access to their online crypto accounts.

Among those targeted are: Don and Alex Tapscott, two cryptocurrency specialists and co-authors of the book: ” Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World ".

"We can confirm that last year a hacker attempted to steal cryptographic assets from our company and its employees. This attempt failed. We have cooperated with the police (and) have been impressed by their determination to bring those responsible to justice, ”said Don Tapscott.

In total, the gang of hackers would have stolen at least $ 50 million in the United States and over $ 300,000 in Canada.

Theft by SIM-swap, a real danger for Bitcoin holders

By usurping the identity of their owner from their operator, hackers take control of the phone number of their victim and thus arrive at pass SMS security set up by exchanges and other custody services for cryptocurrencies.

In recent months, many investors, especially in USA, have been victims of this type of flight. They usually sue their mobile operator for being negligent.

Last year, a 20-year-old American student was sentenced to serve a 10 year prison sentence for stealing more than $ 5 million in cryptocurrencies by hacking SIM cards.

More recently, a another 19 year old hacker suspected of stealing more than $ 1 million in cryptocurrencies using this technique has been arrested in the United States.