Hacker Accesses Silicon Valley Bigwigs Phones to Steal Cryptocurrency

Truglia Suspect in 11 Cases 

21-year-old Truglia, a self-proclaimed student of Harvard University, made the elite residents of his West 42nd Street high-rise the target of his new-age theft. Nicknamed “Billy the Kid of Bitcoin”, Truglia is now a prime suspect in at least 11 cases. According to Truglia, after hacking the smartphones of the victims he impersonated them. This enabled him to not only obtain personal information, but also access to their bank accounts. Seven victims filed a police report, however, the only victim to experience a financial loss is Robert Ross.

According to Deputy DA Erin West, “It’s a new way of doing an old crime. It’s a pervasive problem, and it involves millions of dollars”. The report says that the victim was powerless when his phone suddenly stopped working. Next, $500,000 in Gemini digital currency and $500,000 in a Coinbase account simply vanished within seconds. The report states that the culprit converted the cash into virtual currency and then shifted it to his personal account.

Other big names from the Silicon Valley who were Truglia’s targets include the CEO of blockchain storage service 0Chain, Saswata Basu, Myles Danielsen, the hedge-funder and vice president of Hall Capital Partners, the co-founder of SMBX startup, Gabrielle Katsnelson. Fortunately, Truglia could not steal anything from the other victims even though he took over their smartphones.

REACT operations trying to curb Smartphone hacking incidences

According to prosecutors, the hackers target most of the victims because of their association and involvement with the cryptocurrency industry. Erin West and her office are aggressively pursuing and prosecuting SIM swap cases. West stated that one thing that these SIM swappers should know that REACT is conducting operations on a national level. She further added that criminals will face investigation and prosecution irrespective of whether the person is in the USA or not.

In this case, they woke up Truglia and arrested him, said West. According to reports, the authorities found a digital hardware wallet containing $300,000 in virtual currency – most probably belonging to his victims.

Hacking incidences in the crypto world are on the rise with the hackers attacking both individual and company computers. At the start of this year, hackers stole computing power from the computers of Tesla by taking control over Tesla’s Amazon Web Services.

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