Michael Terpin

August 16, 2018

Hanging Up on Mobile in the Name of Security

This post was originally published on this siteAn entrepreneur and virtual currency investor is suing AT&T for $224 million, claiming the wireless provider was negligent when it failed to prevent thieves from hijacking his mobile account and stealing millions of dollars in cryptocurrencies. Increasingly frequent, high-profile attacks like these are prompting some experts to say the surest way to safeguard one’s online accounts may be to disconnect them from the mobile providers entirely. The claims come in a lawsuit filed this week in Los Angeles on behalf of Michael Terpin, who co-founded the first angel investor group for bitcoin enthusiasts in […]
January 15, 2019

“Stole $24 Million But Still Can’t Keep a Friend”

This post was originally published on this siteUnsettling new claims have emerged about Nicholas Truglia, a 21-year-old Manhattan resident accused of hijacking cell phone accounts to steal tens of millions of dollars in cryptocurrencies from victims. The lurid details, made public in a civil lawsuit filed this week by one of his alleged victims, paints a chilling picture of a man addicted to thievery and all its trappings. The documents suggest that Truglia stole from his father and even a dead man — all the while lamenting that his fabulous new wealth brought him nothing but misery. The unflattering profile […]
January 9, 2020

Senators Prod FCC to Act on SIM Swapping

This post was originally published on this siteCrooks have stolen tens of millions of dollars and other valuable commodities from thousands of consumers via “SIM swapping,” a particularly invasive form of fraud that involves tricking a target’s mobile carrier into transferring someone’s wireless service to a device they control. But the U.S. Federal Communications Commission (FCC), the entity responsible for overseeing wireless industry practices, has so far remained largely silent on the matter. Now, a cadre of Senate lawmakers is demanding to know what, if anything, the agency might be doing to track and combat SIM swapping. On Thursday, a […]
December 16, 2021

NY Man Pleads Guilty in $20 Million SIM Swap Theft

This post was originally published on this siteA 24-year-old New York man who bragged about helping to steal more than $20 million worth of cryptocurrency from a technology executive has pleaded guilty to conspiracy to commit wire fraud. Nicholas Truglia was part of a group alleged to have stolen more than $100 million from cryptocurrency investors using fraudulent “SIM swaps,” scams in which identity thieves hijack a target’s mobile phone number and use that to wrest control over the victim’s online identities. Truglia admitted to a New York federal court that he let a friend use his account at crypto-trading […]