Group member who steals Cryptocurrency by hijacking SIM jailed and fined Rs 90 lakh

Garrett Endicott, the sixth member of the hacking group ‘The Community’, has been sentenced to 10 months in prison in the 2019 SIM hijacking case. Along with this, a heavy fine of 1 lakh 20 thousand dollars (about 90 lakh rupees) has also been imposed on him. Through the hacked SIM, the accused had access to the cryptocurrency accounts and e-mails of the victims. This group had stolen up to $ 9 million (about Rs 67 crore). Garrett Endicott was the last member of this group to be caught and sentenced by the US Department of Justice.

one of the hill Report According to reports, each victim of this scam suffered a loss between $ 2 thousand (about Rs 1.5 lakh) to $ 5 million (about Rs 3.7 crore). Many of the victims even lost their retirement funds.

Other members of the group have also been sentenced to prison terms ranging from 36 to 42 months. Along with this, a fine of up to $ 9.5 million (about Rs 71 crore) has also been imposed on him.

Market Research Tracker CoinGecko’s according, crypto market We are currently witnessing a global boom. The total market cap of crypto is recently touching the mark of $ 3 trillion (about Rs 2 crore 22 lakh 79 thousand 296 crore).

Cybercriminals are now targeting crypto holders, investors as well as exchanges to steal more assets. Recently, a cyber research team from Sophos reported a coin filled with $1.4 million (approximately Rs.10 crore) tokens. bitcoin Wallet detected. It was collected through scam. Scammers are also looking for victims through dating apps like Bumble and Tinder.

a recent Report It has been revealed that the total amount of crypto crime in 2020 was around $10.52 billion (Rs 79,194 crore). The same report also states that scams and fraud are a major problem for cryptocurrencies, accounting for 67.8% of total cryptocurrency crimes in the year 2020.

Earlier in November, the US Federal Bureau of Investigation (FBI) said that cyber scammers are tricking innocent people into using physical cryptocurrency ATMs and digital QR codes to complete malicious transactions.