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Hacker stole $1m from Silicon Valley executive via SIM swap

Nicholas Truglia, a 21-years-old man from New York, has been accused of stealing $1 million from Silicon Valley executive via SIM swap. He gained access to his phone number and used it impersonate the executive and steal $500,000 from two accounts he had at Coinbase and Gemini.

The hack and consequent cyber heist occurred on October 26 and Truglia was arrested on November 14.

The man is suspected to have scammed more than six executives in the Bay Area.

“San Francisco resident Robert Ross, a father of two, noticed his phone suddenly lose its signal on Oct. 26. Confused, he went to a nearby Apple store and later contacted his service provider, AT&T. But he wasn’t quick enough to stop a hacker from draining $500,000 from two separate accounts he had at Coinbase and Gemini, according to Santa Clara officials.” reads a CNBC report.

“Nicholas Truglia, 21, lifted the $1 million from Ross’ two cryptocurrency accounts, according to a felony complaint filed this month in California state court. “

The man has been charged with a total of 21 crimes, including identity theft, fraud, embezzlement, and attempted grand theft. although his attempts to rob them ultimately failed.

Police raided the Truglia’s house under a warrant and able to recover $300,000 worth of cryptocurrency from his hardware wallet. At the time, there is no news about the remaining amount of money stolen by the man.

According to the court documents, Truglia also targeted Saswata Basu, the CEO of blockchain storage service 0Chain; Myles Danielson, a hedge-fund executive, and Gabrielle Katsnelson, co-founder of start-up SMBX.

Read this Hebrew document on SIM Swap fraud and contact us here at Mobisec Technologies to learn how to protect your organization from this kind of attack:

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