Cryptocurrency news

Eight people have been arrested in the UK for stealing cryptocurrencies through SIM Card Fraud

SIM cards lie on a table in this photo illustration taken in Sarajevo February 24, 2015. Franco-Dutch technology firm Gemalto, the world's biggest maker of phone SIM cards, will not pursue any legal action against government agencies it says are probably behind a large-scale hacking attempt as chances of success are nearly nonexistent, CEO Olivier Piou said February 25, 2015. Gemalto makes smart chips for mobile phones, bank cards and biometric passports and counts Verizon , AT&T Inc. and Vodafone among its 450 wireless network provider customers around the world. Picture taken Febryary 24. REUTERS/Dado Ruvic (BOSNIA AND HERZEGOVINA - Tags: BUSINESS SCIENCE TECHNOLOGY CRIME LAW) - LR2EB2P0WN1WF

Eight people have been arrested in the UK for stealing cryptocurrencies through SIM Card Fraud

The UK police, with the support of Europol, have arrested eight suspects in SIM card fraud. The group stole $100 million worth of fiat currencies and crypto assets.

According to the statements of Europol
and the National Agency
The UK’s National Crime Agency (NCA) has arrested eight people as part of an investigation into the theft of fiat currencies and crypto assets. The attacks were carried out during 2020 from the UK. According to the NCA, the victims lived in the United States and were ” well-known influencers, sports stars, musicians, and their family members.”

The United States, the United Kingdom, and Europol collaborated with authorities in Belgium, Malta, and Canada to capture the perpetrators. Eight suspected members of the gang, aged 18-26, were arrested in England and Scotland this week.

Fraudsters downloaded identification information from the SIM cards of the victims ‘ phones to their cards. After gaining control of the SIM cards, they stole money from cryptocurrency services and from bank accounts.

Paul Creffield, head of operations for the NCA’s National Cybercrime Unit, said: “Those arrested face penalties for offences under the UK Computer Misuse Act, fraud and money laundering, and extradition to the US.”

Recall that last summer, the US Department of Justice accused
A California student has been charged with SIM card fraud and stealing cryptocurrencies from a New Orleans investor, as well as 27 other similar crimes. In October 2019, a cryptocurrency investor filed a lawsuit against AT&T, accusing it that employees of the firm gained access to his account and illegally seized $1.8 million, including in cryptocurrencies.