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Blockchain and Crypto Investor Terpin Received Over $75 Million after Winning Sim-Swapping Lawsuit

By Tracy Hannes | May 13, 2019
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Blockchain and Crypto Investor Terpin Received Over $75 Million after Winning Sim-Swapping Lawsuit

Michael Terpin – a U.S-based blockchain and crypto investor – has prevailed in his civil suit against his attacker, and therefore, will receive a $75.8 million award.

As reported by Reuters on May 10th, Terpin has reportedly filed a civil lawsuit against the young crypto scammer – Nicholas Truglia – for victimizing Terpin in an attempt to steal his crypto assets. According to the report, the California Superior Court has ruled in favour of Terpin, demanding the 21-year-old Manhattan man to compensate for any financial damage he caused to Terpin. The payout has set the record, to be one of the biggest sums of money to have ever been given to a victim of a fraud case.

Terpin has decided to take Truglia to the court of Justice sometime around December 2018, following his previous complaint filed against the AT&T – the giant mobile service provider – in August last year. Terpin accused AT&T of failing to provide proper protection for his personal phone digits, which consequently enabled the attacker to exploit it, gained access to his wallets and stole approximately $24 million worth of crypto.

Truglia – along with his accomplices – overtook Terpin’s digital coins by porting his number to a phone in their possession, changing the passwords and got into his online accounts. Truglia was brought into custody in November 2018, for employing SIM swapping to steal nearly $1 million in crypto.

As The Crypto Sight reported today, the New York Department of Justice has recently charged a hacker Group behind $2.5 Mln in Crypto Stolen, via Sim Swapping, with a 15-count indictment.

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