Garrett Endicott, the sixth member of a hacking group called “The Community”, has been sentenced to 10 months in prison for the 2019 SIM hijacking case as well as asked to pay a hefty fine of $120,000 (about Rs 90 lakh). In order to access the victims’ cryptocurrency accounts and emails through the hacked SIM, the group stole up to $9 million (about Rs 67 crore). Garrett, the last member of the group to be captured, was sentenced by the US Department of Justice on Tuesday, December 2.
according to a report good By The Hill, each victim of this scam lost between $2,000 (approximately Rs 1.5 lakh) and $5 million (approximately Rs 3.7 crore). Many of the victims lost their retirement funds.
“The illegal activities of the ‘community’ were thwarted as the result of a complex international cryptocurrency and identity theft investigations. As criminal organizations commonly use web-based schemes to further their illegal activities, this shows how vulnerable our personal information can be,” special agent in charge, James Harris was quoted as saying had gone.
Other members of the community have also been sentenced to prison terms ranging from 42 months to three years, as well as fines of up to $9.5 million (about Rs 71 crore).
According to the market research tracker, the crypto market is currently witnessing a global boom with the total market capitalization recently touching the $3 trillion mark (approximately Rs 2,22,79,296 crore). coingeco,
Cybercriminals are targeting crypto holders, investors as well as exchanges to steal more assets. Recently, a cyber research team from Sophos has detected a Bitcoin The wallet was filled with tokens worth $1.4 million (about Rs 10 crore), which were collected through scams. Scammers were looking for victims through dating apps like bumblebee and tinder,
In October, a major hack attack cost Ethereum-powered The loan protocol called “Cream Finance” is worth $130 million (approximately Rs 972 crore) of crypto assets.
recently report good has revealed that the total crypto crime in 2020 was approximately $10.52 billion (approximately Rs 79,194 crore).
The same report also pointed out that scams and fraud are a major problem accounting for 67.8% of total cryptocurrency crime in 2020.
Earlier in November, the US Federal Bureau of Investigation (FBI) said that cyber scammers Malicious people are using physical cryptocurrency ATMs and digital QR codes to complete transactions and defraud them of assets.
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