According to CCN reports: Millions of dollars have been hacked using SIM, which has become an attractive way of stealing crypto. This has exceeded the amount of millions missing over the past years.
This refers to the recent case where nine individuals took part in the hacking crypto over worth 2.4 million dollars, who have now been forced to face the the law at the Attorney’s office for the Eastern District of Michigan in US. The prosecutor of the case said they will be penalized according to the crime committed either by aiding or participating in the crime.
The nine committed different offences, six of them were involved in planning, executing financial fraud and more serious by using dangerous weapons. Three were penalized for aiding in the planning and execution of financial fraud by use of telecommunication or information Technology.
0.3 Million Dollars Hacked In Each Attack
The amount was hacked seven times, amounting to more than 345,000 dollars for each attack. This was reported by the United States Attorney’s Office Eastern District of Michigan.
According to press release of Justice Department, exchanging of SIM by the community hacking group, of which six of the nine hackers belonged was always done by bribing cell phone carriers. In the incidence of SIM robbery, hackers activate their victim’s mobile number that they have stolen without physical contact. This usually is done by criminals who conspire with influential people in the organization and have access to confidential Information.
The community used the victim’s SIM card to hack in their victim’s accounts, once they got hold of it. In this case three of the nine criminals namely, Robert Jack, Fendley Joseph and Jarratt White were cell phone carriers and others not named.
IRISH CRYPTO HACKERS EXTRADITED
The US extradited Cornor Freeman an Irish who was one of the five members of the community hacking group, while Ricky Handschumacher, Colton Jurisic, Reyad Gafar Abbas, Garret Endicott and Ryan Stevenson were US citizens arrested last week. This helped authorities identify other hackers, where the first arrest according to The Journal was in May last year.
CYBER SECURITY EXPERT TURNS TO BE THE HACKER
Ryan Stevenson hails from Connecticut, a cyber security researcher turned out to be one of the members of the hacking group. He was given $1,000 for identifying a problem on T-Mobile’s website which led to accessing clients accounts PINs and home addresses.
Investigative reports by Krebs on Security claimed, Stevenson has been involved in so many cyber crimes. In November last year, he was collecting T-Mobile’s bug bounty and selling online identifying services to cell phone carriers in US.