20-Year-Old Florida Man Sentenced for $1M Crypto SIM Swap Scam
A 20-year-old individual from Florida has been sentenced to 30 months in prison for his involvement in a cryptocurrency SIM swap scam that resulted in the theft of nearly $1 million.
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A 20-year-old individual from Florida has been sentenced to 30 months in prison for his involvement in a cryptocurrency SIM swap scam that resulted in the theft of nearly $1 million.
According to ZachXBT, Yahya Maghrab's role primarily involved conducting lookups on X/Twitter accounts through his panel, facilitating scammer Skenkir in identifying potential US targets for SIM swap attacks.
A surge in SIM swap attacks has affected several cryptocurrency leaders and organizations, resulting in substantial financial losses and raising concerns about mobile carrier security.
Ethereum developers have proposed EIP-7281 to mitigate the impact of bridge hacks and enhance security.
The SIM card, functioning as a hardware wallet, will initially undergo testing with the central bank digital currency (CBDC) in select pilot areas. This test will only be available to a specific group of Android phone users, but there are plans to expand its availability in the near future.
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