Thursday, July 7, 2022

Gang of hackers steal SIM cards and encrypted coins worth $ 2.4 million


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at

The Verge detected a report said that the US authorities tracked a gang involved in the scam of encrypted coins, sim card theft caused victims more then $ 2.4 million. once guilty, the gang will face prison sentence for decades

In an unclaimed indictment, prosecutors at the US Attorney General’s Office in the Eastern District of Michigan claim that six people, who live throughout the United States and Ireland, were members of a group called “Society” or “The Community”, Who participated in a scam, where hackers convince mobile phone companies, using bribery or deception, to transfer a phone number to a sim card.

By accessing the phone number, fraudsters could bypass security measures such as bilateral authentication, allowing them to control the victim’s accounts. The fraud often involved controlling the victim’s encrypted wallet, allowing Hacker access to the money.

The group allegedly used the technique seven times to steal encrypted currency. In a separate complaint, prosecutors charged three mobile phone employees with accepting bribes as part of the crime.

Hackers face many charges of fraud and identity theft, while telephone company employees have been accused of fraud, and each may face decades in prison if convicted.

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