A blockchain consultant accuses an 18-year-old young man of being the master of a ploy that caused him to lose more than $ 24 million in cryptocurrencies.
The case dates back to 2018 when Michael Terpin suffered a flight of $ 24 million in cryptocurrencies following the hacking of his smartphone.
While the crypto-investor quickly hired lawsuits against its operator AT&T for negligence, the NewYorkPost reports yesterday that Terpin is now accusing Ellis Pinsky to have stolen his digital pieces when he was still only 15 years old.
The claimant claims the sum of $ 71.4 million, almost 3 times more than the amount stolen, and declares that Pinksy and his "gang of digital bandits" were taking control of smartphones via the technique known as SIM Swap which aims to hijack a phone number by impersonating its owner in order to steal cryptocurrencies like Bitcoin.
Read also : Victim of a $ 24M theft in crypto by SIM-swap, he alerts the FCC
According to court records, Terpin is still suing his telephone operator for $ 240 million, but the case may be dismissed soon.
According to a recent KPMG report, 8.79 billion euros in cryptocurrencies have been stolen since 2017. The network of audit firms believes that security standards today are not strict enough, leaving a "tremendous profit opportunity" for custodians.
Read also : Vollgar fills up on cryptocurrency on hacked Microsoft servers
Related posts:
Why do cryptocurrency Exist – Institutions 
Bitcoin and independent property rights 
NASDAQ on market manipulation: Everyone is now talking about regulating bitcoin and cryptocurrency 
Pilot Porsche on Ethereum blockchain to trace provenance materials 
Xfers from Singapore is going to use blockchain Zilliqa 
Make your own tokens with the Guarda wallet
