Canadian Teen on Bail for $48 Million Theft Kept Stealing, Now in US Prison
In 2020, a 17-year-old dedicated one of many largest thefts in Canadian historical past after stealing tens of tens of millions of {dollars} in cryptocurrencies by means of a SIM swap rip-off. Two years later, he was launched on bail.
He continued stealing crypto by taking up well-liked X accounts and directing followers to fraudulent web sites, cashing in over 1,000,000 Canadian {dollars}. Now an grownup, the person is fulfilling a one-year sentence at a US jail.
Defrauding Hundreds While on Bail
A Canadian man is at present serving a one-year jail sentence in the US over a 2022 crypto theft spree. During this era, he defrauded as many as 200 folks of greater than CAD $1 million ($800,000).
From May to July 2022, the person orchestrated these thefts by taking up well-liked social media accounts on X. He then posted hyperlinks to fraudulent web sites to entry victims’ crypto wallets. He carried out his newest thefts whereas on bail for a separate crime he dedicated as a teen.
A $48 Million Heist
In May 2020, the Hamilton man dedicated one of many largest cryptocurrency thefts in Canadian historical past, stealing CAD $48 million ($35 million) from one individual in a single day. Since he was 17 years outdated on the time, his identification stays protected under Canadian law.
He dedicated the theft using a SIM swap, tricking a customer support agent into redirecting texts to his personal gadget. This mechanism allowed him to entry the accounts of an American entrepreneur and switch the cryptocurrency.
Following the invention of the theft, the US Federal Bureau of Investigation and Hamilton police launched a joint investigation.
According to native studies, he bought the extremely sought-after PlayStation username “God” with stolen Bitcoin, a key clue linking him to the crime. An Ontario court docket later sentenced the teenager to a yr of probation and ordered him to pay again CAD $2.5 million ($1.8 million) in restitution.
A US court docket additionally ordered the person to pay $231,000 in restitution to the victims for his most up-to-date crimes and imposed a high-quality of almost $60,000. Upon his launch from jail, he shall be deported again to Canada.
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