Tech Savvy Student Steals $7.5 Million in Cryptocurrency - page 3.

Haunebu

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Quote from: dothebeats on April 30, 2019, 02:09:03 PM

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.

They acquired $400k from him and it looks like the rest has already been spent or well hidden. Good riddance.

pakhitheboss

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This proves Crime never pays and always Fail. Being such a smart and intelligent Guy, if he had utilized his brain in something constructive then people would have respected him and loved him.

Now, he will stay in that jail for 10 years. Thinking why he did that crime.

Yakamoto

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Quote from: Genemind on April 30, 2019, 01:46:11 PM

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.

It's actually pretty crazy how vulnerable 2-factor authentication can be if someone has the means to change or access SIM cards. Not to say that it's easy to exploit the vulnerabilities with 2FA, because it makes it much harder for someone to access your stuff across the board, but there's always some way to break the system.

Either way, it's fraud and he deserves it. You can't justify taking money from other people regardless of how elaborate your scheme is to get past all the checks and balances preventing you from doing so. Considering he took so much crypto from that one entrepreneur, that was likely what did him in and finally got some authorities on his case. I don't think he'll be able to keep the money, but if he somehow tucked it away then a $5m payout isn't half bad for 10 years of your life. Too bad it'll be behind bars.

fudster

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Took him minutes to steal but will take him 10 years on prison cell. He be spending 10 years of his life wondering how he could have avoided getting caught. Such a waste when a valedictorian should have concentrate on his studies. If he still have his coins in a safer place, he still could be a millionaire when he is out though, BTC might just be worth $50K.

Pamadar

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Quote from: Genemind on April 30, 2019, 01:46:11 PM

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.

He's good but didn't used his knowledge in the right way, this news should be remembered and be a basis for traders and investors who's keeping their assets in some places which is prone for hackers attention, we should firstly take a bunch of care with every single information about our investment, he deserved what he needed to fill inside the prison cell.

okala

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Ortiz is among those who have been attacking and hacking exchanges all over, how can you steal another man hard earned money and spending it at night club's and buying of useless items until only $400,000 left from the total of $7.5 million Worth of cryptocurrency you stole from your victims.

gentlemand

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Savvy and tech savvy are two very different things. Incredibly stupid of him to flash the cash.

It's also incredible that this is still possible through phone companies. Idiots base their entire lives around their phones. Security surrounding their interaction with customers services should be rock solid. I seem to recall someone looking into a lawsuit about them giving the SIM away. I wonder what became of that.

One more incredibly stupid for any crypto fan who trusts a phone company as well.

dothebeats

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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's why it's highly important for people to be very vigilant at all times because at this day and age, it's incredibly easy to steal private information from other people. It's a shame though that the dude will be spending time behind bars instead of just honing his craft outside and being clean. He could have made a lot of fortune without being watched by the government by being a security consultant or anything that involves security.

Genemind

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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.

PTCSuccessBlog

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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/

Topic: Tech Savvy Student Steals $7.5 Million in Cryptocurrency - page 3. (Read 640 times)