Sim swapper in custody after making away with more than200, 000 dollars worth of crypto

Sim swapper in custody after making away with more than200, 000 dollars worth of crypto

According to the Krebs on security, a 19 year old boy is in custody. The boy is said to have apart from making away with sufficient crypto to have himself a McLaren worth 200,000 dollars, he is facing multiple charges all tied to defraud. The police are said to have arrested the sim swapper in Santa Clara, California.

As the head of investigations explain it, sim swappers’ steal mobile phone numbers from people the well know access their details from mobile phones, they take the lines and use them access the digital financial accounts including the social media of the victims.

According to Krebs Security, Xzavyer Clemente Narvares was arrested last week for allegedly hijacking large sums of bitcoin and other crypto currencies. Clement according to reports, bought luxury items with what he reaped from defraud. One of the several alleged victims reportedly lost 150,000 dollars.

Once a sim card is swapped, the victims’ phones will lose services and all the expected texts and calls will fall on the hackers device, enabling the swapper to run the swapper run the device as the distinct owner. Well knowing that a lot of web services use phone numbers to access sites for verification and identity, they access the victims online accounts with a lot of ease.

Police in califonia however continue their investigations with a recent report where they arrested a second scam suspect on august 17th

Narvares is accused of seven counts of computer crime, identity fraud and grant theft. This is according to a complaint obtained by motherboard. His arrest comes after that of Joel Ortiz, the first person in the US to ever been accused of hijacking phone numbers by sim swapping a state known as “port out scam” to steal bitcoin. Earlier this month also, Florida police arrested a 25 year old accused of being part of a group that stole bitcoin through sim swapping

Narvares is said to own sport cars many of which he purchases using bitcoin. Through DMU records, police found out that Narvares bought the 2018 McLaren paying partiy by bitcoin and paying partly by trading in 2012 Audi R8 which Narvares purchased via bitcoin in June 2017

The investigators obtained records from bitcoin payment provider Bitpay, and cryptocurrency cryptocurrency exchange Bitrex. The records reveal that between March 12 and July 12 of this year, Narvarez’s account saw a flow of 157 Bitcoin according to the court document.