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SIM-swapper Pays $75 Million to Cryptoinvestor

Nicholas Truglia who was accused of SIM cards forgery and theft of digital assets has paid the compensation to Michael Terpin totaling $75 million.

Per the report, the California Superior Court last week ordered Manhattan resident Truglia to pay the amount above in compensatory and punitive damages. Terpin filed the complaint against Truglia in particular in late December, after first filing a lawsuit against AT&T last August. Terpin accused the firm of negligence that allegedly allowed the suspect to gain control over Terpin’s phone number and steal almost $24 million worth of crypto.

According to the application, Truglia and other participants allegedly took control over Terpin’s tokens by transferring his phone number under their control, resetting passwords and accessing his online accounts. Truglia was reportedly arrested in November for stealing $1 million in crypto also via SIM swapping.

According to the statement, Trugliya and other participants of the fraudulent scheme stole Terpin's cryptoassets, having received control over its phone number. Trugliya was arrested in November for theft of $1 million in cryptocurrencies, including by a fake of SIM cards.

An American student Joel Ortiz became the first who was arrested for SIM-swapping (a method of cracking during which a crook “copies” the victim’s number on another SIM). Ortiz stole more than 5 million dollars, pleaded guilty and was sentenced to a 10-year imprisonment.