Scammer who stole $11.8 million from users using malicious crypto wallet app goes on trial in the US

The U.S. Department of Justice (DOJ) announced today that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and is standing trial in Buffalo, New York, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to the Apple App Store in June 2018. The app purported to be a legitimate cryptocurrency wallet, but its purpose was to steal users’ private keys, allowing Sklyuev to access their funds. In September 2018, a victim in Western New York installed the app and lost approximately $11.8 million in cryptocurrency. Sklyuev later transferred those funds to multiple online wallets that he controlled. The charges carry a maximum sentence of 20 years in prison and a $250,000 fine. Sklyuev is scheduled for a detention hearing on July 3, 2024. (Bitcoin.com)