A Canadian adolescent was arrested in connection with an alleged CAD$46 million cryptocurrency robbery.
A minor under the age of 18 from Hamilton, Ontario, was detained and charged with suspected participation in the larceny of cryptocurrency in November 2021. The Hamilton Police and the Federal Bureau of Investigations as well as the US Secret Service Electronic Crimes Task Force launched a cooperative investigation in March of 2020. The robbery of cryptocurrency from a citizen in the US was the subject of the inquest.
To attack the target, the suspect conducted a SIM swap operation in which the youth misled cellular network staff into replicating phone numbers in order to capture two-factor authentication requests. As a result of the SIM swap event, the victim's cryptocurrency was pilfered in the sum of CAD$46 million. This is the greatest cryptocurrency robbery perpetrated by a single individual to date.
According to police, the suspected culprit was detained for stealing over CAD$5,000.00 as well as possession of property or proceeds of property obtained by crime.
According to the collaborative inquiry, some of the looted cryptocurrency was used to buy a unique gaming username. As a result of this purchase, detectives were able to identify the account holder of the uncommon username.
Numerous cryptocurrency appropriations worth more than CAD$7 million were seized by Hamilton Police.