Topic: Tech Savvy Student Steals $7.5 Million in Cryptocurrency - page 2. (Read 646 times)
When Ortiz was arrested, law enforcement groups investigating IT crimes only managed to confiscate $ 400,000. I read some written media in the announcement, Joel Ortiz after committing his crime. he spent the illicit money on club parties, expensive clothes, etc., and even hired a helicopter to get to a music festival, this was really crazy what he did.
This is the reason that i personally wouldn't want to store bitcoin on my phone.
Stealing cryptos using SIM cards is not a problem with cryptos. But that the cryptos could solve. In Brazil this practice of crimes is being done using whatsapp. The victim's cell phone is cloned and the thief asks for money from close friends as if he were the victim.
SIM cards are not reliable. Your mobile number can not be your only 2fa method as it can be easily cloned or stolen.
SIM cards are not reliable. Your mobile number can not be your only 2fa method as it can be easily cloned or stolen.
Joel Ortiz, a skilled SIM Swapper was caught and arrested back in May 2018. On April 22nd 2019, the District Attorney’s Office of Santa Clara County made their formal announcement about his sentence – 10 years in prison.
Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.
According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.
https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/
I think he got what he deserved. It's not okay to steal money, even if you're a smart hacker. It's nice that he was convicted of his crime, even though it involved cryptos, not fiat. If he is just 21, he will still have time to live ab interesting life after prison. Maybe he'll use his abilities for good next time. After all, rethinking one's principles is what being in prison is partially about.Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.
According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.
https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/
He do wasted up his talent rather than using it on blackhat it would be better if he do apply for something else which is legal. Each theft/hacking case would really have corresponding consequences.
For the age of 21 which is too young to get in prison but it is just right.
Joel Ortiz, a skilled SIM Swapper was caught and arrested back in May 2018. On April 22nd 2019, the District Attorney’s Office of Santa Clara County made their formal announcement about his sentence – 10 years in prison.
Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.
According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.
https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/
I think he got what he deserved. It's not okay to steal money, even if you're a smart hacker. It's nice that he was convicted of his crime, even though it involved cryptos, not fiat. If he is just 21, he will still have time to live ab interesting life after prison. Maybe he'll use his abilities for good next time. After all, rethinking one's principles is what being in prison is partially about. Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.
According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.
https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/
No sane person will admire a fraudulent act no matter how smart and skillful the perpetrator may be, Ortiz among other scammers can as well channelled this skills into developing something that will better the lots of our security challenge's today and help preventing such occurrence and safe potential victims and the world will celebrate the skillfulness.
According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.
By and large, he stole the entire amount from only one rich man.The theme of the post is perceived by everyone as if everyone should admire a young student who was able to steal the money.But in fact, this student could spend time with sense and direct their skills in the right and legitimate direction.And so all these skills will remain with him for another 10 years .... 
I'm not surprised by his skill but by the few targets in which he managed to steal $7.5 million worth in crypto from. I mean, who are these people he stole from? Are they some sort of high-profile individuals and didn't notice that they have been robbed?
That is the interesting part. He must have carefully analyzed these particular individuals over a specific period of time and performed the theft in a smart manner without anyone noticing until now.Just like any criminals out there, they usually "case" their victims, stalking them for weeks or even months and then take that one shot to steal your money under your nose.
They acquired $400k from him and it looks like the rest has already been spent or well hidden. Good riddance.
Yeah, good riddance. He has the talents, unfortunately, he didn't put it to good use but instead chooses the life of a criminal and now he is behind bar.
It's disappointing that there are people like Ortiz who would hack the earnings of others just to sustain his life. He deserves to be in jail and I pity the victims more than him. We all know how hard it is to earn bitcoin these days and losing our investments would lead us to depression. I have my sympathy for the victims.
He got off too lightly for the amount of money he stole. He will probably only end up serving 5 or 6 years as well.
This guy ruined peoples lives permanently and just blew their money on stupid shit. This guy deserves a harsher punishment.
This guy ruined peoples lives permanently and just blew their money on stupid shit. This guy deserves a harsher punishment.
Absolutely, and it's very sad to see the guy gets adored for his "smarts", apparently by people that don't know what smart exactly means. I suspect his victims are considerably smarter if they made that kind of money in a legitimate way while contributing to society, regardless of them maybe being less tech-savvy.
Just having some tech skills, or being aware of some vulnerabilities doesn't make you smart.
He got off too lightly for the amount of money he stole. He will probably only end up serving 5 or 6 years as well.
This guy ruined peoples lives permanently and just blew their money on stupid shit. This guy deserves a harsher punishment.
This guy ruined peoples lives permanently and just blew their money on stupid shit. This guy deserves a harsher punishment.
Ortiz was a smart hacker and yet I don't admire him because he spent all the money with worthless things. That was too huge and he just spent it with his friends. He's too young and will be spending 10 years in prison, I pity him but I guess he should pay for what he did. That's the reason why we have to handle our mobile numbers well. Hackers could do anything by just using our personal numbers.
If he was caught he was not smart. He might be tech savvy and can hack stuff, but financials and planning are not his forte obviously.
$7.5m on exchange wallets of 40 victims 
Stealing cryptocurrencies must be easier if you have physical access to such devices, think about anonymity. He could get caught, it's okay.
But: ''Ortiz wasted the money lavishly on things such as...'' He could easily disappear without a trace with coins laundered. Just a hacker..
Stealing cryptocurrencies must be easier if you have physical access to such devices, think about anonymity. He could get caught, it's okay.But: ''Ortiz wasted the money lavishly on things such as...'' He could easily disappear without a trace with coins laundered. Just a hacker..
Ortiz was a smart hacker and yet I don't admire him because he spent all the money with worthless things. That was too huge and he just spent it with his friends. He's too young and will be spending 10 years in prison, I pity him but I guess he should pay for what he did. That's the reason why we have to handle our mobile numbers well. Hackers could do anything by just using our personal numbers.
I wouldn't say he is a smart hacker! What he has done is illegal and must be penalized for that! It really doesn't matter how he spent his money, but the money certainly doesn't belong to him! He is a thieve and I will call him that only! It is a lesson to us to make sure that we don't keep valuable things in our mobile phones which can be easily hacked by some hooligans like Joel. It's because of some hackers like Joel, the entire hackers community gets a bad reputation! No one should try to glorify such act!
It sounds like he used his smarts for the wrong things. He could have made a lot more money in the space by building rather than stealing, since there is such a strong demand for developers. Perhaps while serving his 10 year sentence he will learn he took the wrong path.
Cryptocurrency enthusiasts should aim to become immune to this vulnerability, by using hardware wallets and other means.
Cryptocurrency enthusiasts should aim to become immune to this vulnerability, by using hardware wallets and other means.
It is a pity that such an intelligent person has spent his gift on stealing money from other people, and then also, by his own stupidity, to go to prison for 10 years in the prime of his life. Smart people are also be an idiots. Many people think that fast money can give us independence and prosperity, but as practice shows, easy money often brings only unhappiness to their owners. All this is sad. I hope that after this guy gets out of prison, he will be able to change his life to something better, and the prison will not break him.
Can anyone explain me how is it possible to steal crypto from SIM card?
For some reason many hackers think that if they steal electronic money then no one would be looking for them. The same thing happened many years ago when many scammers were happy to steal some money via PayPal and for some time no one has been arresting them but then everyone understood that those kind of crimes is not that safe.
Ortiz was a smart hacker and yet I don't admire him because he spent all the money with worthless things. That was too huge and he just spent it with his friends. He's too young and will be spending 10 years in prison, I pity him but I guess he should pay for what he did. That's the reason why we have to handle our mobile numbers well. Hackers could do anything by just using our personal numbers.
So stealing money from other people in order to spend it for good purpose totally advocates this crime in your eyes?For some reason many hackers think that if they steal electronic money then no one would be looking for them. The same thing happened many years ago when many scammers were happy to steal some money via PayPal and for some time no one has been arresting them but then everyone understood that those kind of crimes is not that safe.
I'm still thinking on how it is possible through SIM cards but this guy made it so there should be some backdoor or negligence from the SIM card/phone company.
if you even bother to click on the url link and read the article, you would know how he did it he's impersonating the owner of the sim card and contacting sim provider for a replacement card
this seems like a well planned hack on a targeted victim
the question is how he found out the information about the user, his account and his phone number
I'm still thinking on how it is possible through SIM cards but this guy made it so there should be some backdoor or negligence from the SIM card/phone company.
Now, he will stay in that jail for 10 years. Thinking why he did that crime.
It's probably all about the money. Ortiz was a smart hacker and yet I don't admire him because he spent all the money with worthless things. That was too huge and he just spent it with his friends. He's too young and will be spending 10 years in prison, I pity him but I guess he should pay for what he did. That's the reason why we have to handle our mobile numbers well. Hackers could do anything by just using our personal numbers.
Ruined 40 lives(actually more probably) He will die and live their life and steal from himself LOL, 10 years is not that long, who makes 7.5 million in 10 years, even in the western world most people make $40,000 a year that is 187 years he should serve. He should be hung or at least forced to work until all the debt is returned just like the bankers owe us for tax. He ruined 40 lives his deserves his to be ruined. I know two wrongs do not make a right, But you should get what you deserve.
to young? he is 21 dood. You are considerd a adult at 16 here in Canada. I got kicked out when I was 16 I became a man real quick.
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