Friday, December 8, 2023

Hacker Jailed for Stealing $1 Million Via SIM Swapping Attacks

A young man from Orlando, Florida, has been handed a 30-month prison sentence for his role in a cybercrime scheme that stole nearly $1 million in cryptocurrency from unsuspecting victims. 

As part of a group of hackers, Jordan Dave Persad, a 20-year-old, admitted to conspiring to commit computer fraud.

Their method of operation involved using a technique known as “SIM swapping” to gain unauthorized access to people’s email accounts and subsequently take control of their online cryptocurrency wallets.

Persad’s participation in this scheme resulted in the charge of Conspiracy to Commit Computer Fraud.

The cyberattacks took place between March 2021 and September 2022, targeting several individuals across the country, including one from Arizona who lost about $30,000. 

Persad and his co-conspirators split the loot among themselves, with Persad receiving about $475,000.

SIM Swapping Attacks

Despite their attempts to remain under the radar, the group’s illicit operations were eventually discovered by law enforcement officials.

As a result, a thorough investigation was launched, culminating in a raid on Persad’s residence in Orlando. During the operation, authorities were successful in recovering a portion of the stolen funds.

Persad will now have to spend 30 months in jail, followed by three years of supervised release. He will also have to pay back $945,833 to the victims of his crimes. 

The investigation, in this case, was led by the Federal Bureau of Investigation. The prosecution was managed by Assistant U.S. Attorneys Amy Chang and Bridget Minder from the United States Attorney’s Office, District of Arizona, Phoenix.

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