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A teenager in Ontario, Canada, has been arrested for stealing C$46 million worth of crypto assets from just one victim. The amount of damage is said to be the highest in the past for theft against a single victim.
According to an official announcement by local Hamilton Police, the boy stole C$46 million in a method called a SIM swap attack. The SIM swap collected target personal information and used it to break through two-step verification of the stolen phone number by contacting the mobile phone company with which the target was contracted.
Some of the crypto assets stolen by the criminals were spent on the purchase of rare usernames from the gaming community. In this case, because the victim was an American, not only the Canadian Hamilton Police Department but also the American FBI participated in the investigation. The perpetrator was charged with theft of more than C$5,000 in damages and possession and use of property obtained by the offense.
It is also reported that the culprit is in his teens, but he avoids mentioning his specific age. The age of the accused is not disclosed under the Canadian Youth Criminal Justice Act and for investigative reasons. In addition, caution is being taken to prevent similar damage, and it is not safe to use the same password for all 15 accounts, and it is important to use a different password for each account. It also added that in most cases accounts can add two-step verification and three-step verification. Related information can be found here.
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