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The man's prison sentence for stealing 22 million dollars in Crypto Assets through SIM card swapping has been increased to 12 years.
According to Mars Finance, recently, U.S. District Judge Alvin Hellerstein increased Nicholas Truglia's sentence to 12 years because he failed to fulfill the agreement to pay $20.4 million in restitution to the victims. Truglia pleaded guilty in 2021, admitting to participating in the fraud against Transform Group CEO Michael Terpin. The scheme involved deceiving telecommunications company employees to transfer Terpin's phone number to a hacker-controlled SIM card, thereby gaining access to his Crypto Assets account. Truglia was responsible for converting the stolen funds into Bitcoin. (TechinAsia)