Hacker Jailed for Stealing Tens of millions of {Dollars} in Cryptocurrencies by SIM Hijacking

A sixth member related to a world hacking group referred to as The Group has been sentenced in reference to a multimillion-dollar SIM swapping conspiracy, the U.S. Division of Justice (DoJ) stated.

Garrett Endicott, 22, from the U.S. state of Missouri, who pleaded responsible to expenses of wire fraud and aggravated identification theft following an indictment in 2019, was sentenced to 10 months in jail and ordered to pay an quantity totaling $121,549.37 in restitution.

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SIM swapping, additionally referred to as SIM hijacking, refers to an identification theft scheme whereby malicious events persuade telephone carriers into porting their victims’ cell providers to SIM playing cards below their management, usually facilitated by bribing an worker of a cell phone supplier or by contacting the service supplier’s buyer assist by posing because the sufferer and requesting that the telephone quantity be swapped to a SIM card operated by the group.

The purpose is to leverage the telephone numbers as a gateway to hijack totally different on-line providers utilized by the targets akin to electronic mail, cloud storage, and cryptocurrency change accounts by resetting their passwords and one-time verification codes which might be despatched through SMS messages as a part of the two-factor authentication (2FA) course of, enabling the cybercrime crew to bypass safety measures.

“Members of The Group engaged in Sim Hijacking to steal cryptocurrency from victims throughout the nation, together with California, Missouri, Michigan, Utah, Texas, New York, and Illinois,” the DoJ stated, ensuing within the theft of cryptocurrency valued, on the time of the theft, ranging wherever between $2,000 to greater than $5 million, from totally different affected events.

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Endicott can also be the sixth and the final of the group members from the case to be sentenced between two to 4 years in jail, together with 4 different folks within the U.S. and one in Eire — Ricky Handschumacher (28), Colton Jurisic (22), Reyad Gafar Abbas (22), Conor Freeman (22), and Ryan Stevenson (29).

“The actions of those defendants resulted within the lack of thousands and thousands of {dollars} to the victims, a few of whom misplaced their whole retirement financial savings,” stated Appearing U.S. Lawyer Saima Mohsin for the Japanese District of Michigan. “This case ought to function a reminder to all of us to guard our private and monetary data from those that search to steal it.”

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