Bloomberg reports on a theft involving a Canadian teen stealing US$36.5 million in cryptocurrency from a victim in the U.S.
Police said the victim was targeted through a cell phone scam known as SIM swapping, in which a scammer hijacks a wireless customer’s phone number to intercept two-factor authentication requests and gain access to the victim’s accounts.
The arrest was the result of a joint investigation with the Federal Bureau of Investigation and the U.S. Secret Service Electronic Crimes Task Force, the Hamilton Police Service said in a statement. The investigation was launched last year in March.
If you haven’t already done so it’s a good idea to lock your SIM card with a PIN.
Check It Out: Teen in Canada Arrested Over $36.5 Million Crypto Theft