Too young to drive, old enough to bribe AT&T staff, apparently
A man who lost $24 million in cryptocurrency in an elaborate SIM swapping scam has won a multi-million-dollar judgment against the thief, who was 15 at the time of the hustle.] filed Friday in federal New York City court, Ellis Pinsky agreed to pay Michael Terpin $22 million for his starring role in the SIM swap and crypto heist. Pinsky was a New York high school student at the time of the theft in 2018, and it's said he paid back $2 million about a year later to his victim.
Pinsky has not, to the very best of our knowledge, been charged with any crime, and it's presumed this is because he was a minor at the time of the theft, and because he cooperated immediately with the Feds a couple of years ago when investigators homed in on him. In a Rolling Stoneover the summer, Pinsky – dubbed Baby Al Capone by the media – admitted he swiped millions in crypto-coins from Terpin via a SIM swap.
This basically reassigns a victim's phone number to the SIM in the scammer's phone so that the scammer receives that number's calls and texts. Once that happens, the crook can request a password reset for the target's webmail account, with the one-time verification code texted to the thief.
The miscreant then used his access to Terpin's phone number to gain access to his cryptocurrency holdings, and transferred millions of dollars to a different account.
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