Crypto industry lately has been associated with many hacking attempts and ransoms. Privacy issues and frauds are surrounding this market, and it is (sadly) no more surprising for the worldwide crypto space. A twenty years old young boy has been officially charged in New York Supreme Court under allegations over SIM-swapping frauds concerning identity and crypto robbery. His name is Dawson Bakies, and he is resident of the state of Ohio.
The Manhattan District Attorney Office declared that the alleged young boy is charged with stealing identities by indulging in SIM swapping activities and looting cryptocurrency holdings of over 50 people across the U.S. He has been involved in these alleged activities since October to December 2018. The indictment filed has come up with 52 charges related to the identity theft, computer tampering, and frauds.
This is not the first time the crypto world is experiencing such incidents. However, as far as the New York region is concerned, this is for the first time that the indictment shows the prosecution for SIM swapping, the attorney informed.
While explaining the drill undertaken by the accused to before performing the fraudulent activities, the attorney said that the alleged person used to link victim’s mobile number (illegally) to multiple iPhone devices owned by him. He used to do this to overcome or avoid the two-factor authentication (2FA) security protocols and to enter and operate victims’ online profiles.
Accounts on Google and cryptocurrency platforms are hence easily available to him. While indulging in these illegal activities, he was successful in accessing 18 online accounts owned by three victims (based in Manhattan). He was able to steal around $10,000 worth cryptos in this. He threatened one of the victims for a ransom in the form of Bitcoins, attorney’s Office stated.
As the accused used to use iPhones to perform alleged activities, the authorities in Manhattan have found out an iPhone 6, which he used in SIM-swapping fraud. The mobile device had dozens of messages having recovery passwords of people’s online accounts. He had personal information of all those victims too.
On this matter, Manhattan District Attorney had warned the accused person saying no matter where he is hidden, the government will get him, and it knows what he is doing and where to find him. The authorities are all set to charge him and punish him for what he has done.
On the background of this fraud and the use of SIM swapping activities, the attorney warned the network service providers about the threat which comes in with the facility of portable SIMs. He said that the companies are in a way causing more vulnerability of the customers to such illegal and theft-related crimes.
This 20-year-old accused is now behind the bar for stealing more than $5 million and is sentenced to 10 years in prison. This fraud reminds of the one which happened in November last year.
Last year, a law firm- Miller filed charges against AT&T and one more network service provider on behalf of victims of SIM-swapping hacks. The accusation stated that one of the law firm’s clients lost more than $621,000 in cryptocurrency through SIM-swap activities.