A Canadian teenager was arrested on suspicion of stealing $36.5 million in cryptocurrency from someone in the United States. The police said this was the largest such robbery involving a victim in the history of North America.
Police in Hamilton, Ontario arrested the unidentified perpetrator on Wednesday after investigating what they called the largest cryptocurrency theft in the history of the United States or Canada. The local police started a joint investigation with the FBI and the U.S. Secret Service Electronic Crime Task Force in March 2020, when someone reported the theft.
The Hamilton Police Department stated that they have “many” More than 7 million Canadian dollars (5.5 million U.S. dollars) were seized during the arrest, which occurred after investigators noticed that part of the stolen money was used to purchase the online username under consideration “rare” According to the police, in the gaming community statement.
The victim is clearly the target of a mobile phone hijacking known as SIM swap. This method involves manipulating cellular network employees to copy phone numbers so that scammers can intercept two-factor authorization requests that allow them to access the victim’s account.
According to detective police officer Kenneth Kirkpatrick of the Hamilton Police Cybercrime Department, this method is considered particularly effective because many people use the same password for multiple sites.He added that cyber and cryptocurrency crimes are becoming more common, but pointed out that the numbers involved in this case are “Very surprising.”
“From anyone’s point of view, this is a lot of money,” Kirkpatrick said, adding that the case is currently being heard in the Hamilton court system.
The police did not disclose the age or gender of the young people, the usernames they purchased, or whether they acted alone.
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