{"id":35771,"date":"2019-12-13T23:43:52","date_gmt":"2019-12-14T04:43:52","guid":{"rendered":"https:\/\/www.opensource.im\/uncategorized\/alleged-sim-swapper-stole-crypto-to-buy-rap-music-sports-cars-and-bling-the-next-web.php"},"modified":"2019-12-13T23:43:52","modified_gmt":"2019-12-14T04:43:52","slug":"alleged-sim-swapper-stole-crypto-to-buy-rap-music-sports-cars-and-bling-the-next-web","status":"publish","type":"post","link":"https:\/\/euvolution.com\/open-source-convergence\/cryptocurrency\/alleged-sim-swapper-stole-crypto-to-buy-rap-music-sports-cars-and-bling-the-next-web.php","title":{"rendered":"Alleged SIM-swapper stole crypto to buy rap music, sports cars, and bling &#8211; The Next Web"},"content":{"rendered":"<p><p>The indictment says the property obtained with the proceeds of the SIM swapping scheme is subject to criminal forfeiture. <\/p>\n<p>Faulk faces a maximum statutory sentence of 20 years behind bars and a $250,000 fine.<\/p>\n<p>If convicted of the extortion charge, Faulk could spend up to two years in prison and made to pay an additional $250,000.<\/p>\n<p>Faulk was arrested in Latrobe, Pennsylvania on Wednesday and has been released on a $250,000 bond. Hes due to appear in court on January 9, 2020.<\/p>\n<p>Using SIM-swapping to swindle cryptocurrency seems to be a growing trend.<\/p>\n<p>In September last year, attackers used the technique tosteal over $200,000worth of cryptocurrency from a professional gamer.<\/p>\n<p>In a completely separate case, a group of 25 people allegedlyused SIM-swapping to steal $24 millionfrom Michael Terpin, an early Bitcoin investor.<\/p>\n<p>The threat posed by SIM-swapping has become such a problem thatengineers at Googleare looking for ways to protect users from potential attacks.<\/p>\n<p><!-- Auto Generated --><\/p>\n<p>See the original post:<br \/>\n<a target=\"_blank\" href=\"https:\/\/thenextweb.com\/hardfork\/2019\/12\/13\/cryptocurrency-sim-swapper-music-royalties-cars-bling\/\" title=\"Alleged SIM-swapper stole crypto to buy rap music, sports cars, and bling - The Next Web\" rel=\"noopener noreferrer\">Alleged SIM-swapper stole crypto to buy rap music, sports cars, and bling - The Next Web<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The indictment says the property obtained with the proceeds of the SIM swapping scheme is subject to criminal forfeiture. Faulk faces a maximum statutory sentence of 20 years behind bars and a $250,000 fine. If convicted of the extortion charge, Faulk could spend up to two years in prison and made to pay an additional $250,000. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[869],"tags":[],"class_list":["post-35771","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/35771"}],"collection":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/comments?post=35771"}],"version-history":[{"count":0,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/posts\/35771\/revisions"}],"wp:attachment":[{"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/media?parent=35771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/categories?post=35771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/euvolution.com\/open-source-convergence\/wp-json\/wp\/v2\/tags?post=35771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}