Canada arrests teenagers due to alleged theft of cryptocurrencies worth $ 36 million-

in Canada was arrested after committed by the law enforcement authorities in Ontario as the greatest crypto theft by a single person. The Canadian is accused of having stolen tens of millions of dollars by a SIM swap that aims at a crypto holder in the USA

teenagers arrested in Canada because he stole crypto assets to the Americans

A young Canadian from Hamilton, province of Ontario, was accused of stealing cryptocurrencies worth $ 46 million in Canadian dollars (over $ 36 million). The digital money was supposedly misappropriated in a SIM swapping attack on a victim living in the USA.

The local police believe that this is the greatest crypto theft that was celebrated by a man, the Toronto Star reported. In March 2020, the Canadian law enforcement agencies teamed up with the Electronic Crimes Task Force of the US secret service and the FBI to carry out the investigation that according to a. To arrest the teenager led Opinion through the Hamilton Police Service.

The press release revealed that police officers could identify the perpetrator when he bought a rare online gaming username with some of the digital coins. If this decision hadn't been, the newspaper said, the boy could have got away with the crime.

The teenager now threatens a prison sentence of up to 10 years because of the shattering cryptocurrency theft. The Canadian authorities also announced that they have already carried out several seizures of crypto-assets with an estimated value of more than seven million Canadian dollars (over $ 5.5 million).

In a SIM exchange, fraudsters manage to port the phone number of one victim to another Sim card by using safety gaps in the mobile phone provider. Fraudsters are often convincing or bribing employees of the mobile phone provider to carry out the transfer, whereupon you receive all the messages and calls on a device you have controlled, including those that are intended for authentication purposes.

crypto-targeting SIM swapping attacks are on the rise worldwide, as Bitcoin prices broke through this year. In February, Europol arrested 10 members of a criminal gang to exchange SIM cards, which allegedly stolen coins worth $ 100 million, such as Bitcoin.com News. reports . The arrests followed an international investigation by a number of cases in which this special technology was used in 2020.

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