In March 2020, police in Hamilton, Canada, launched a joint investigation with the FBI and a U.S. Secret Service branch specializing in electronic crimes to uncover a cryptocurrency scam, Nov. 18 reported. PhoneAndroid. The victim had been the target of a SIM card or SIM swap scam. Scammers take control of their target’s SIM card after requesting a second from their operator. To achieve this, scammers use social engineering or phishing attacks to obtain as much information as possible about their targets. They can then use this data to request a new SIM card from the operator and, among other things, receive the codes used for double authentication via SMS.

An American would have had about 46 million Canadian dollars in cryptocurrency stolen, or more than 32 million euros. This is currently the largest cryptocurrency theft reported by an individual, Hamilton Police said on March 17 a statement. The joint investigation revealed that some of the stolen cryptocurrency was used to buy a rare username online in a multiplayer video game. This transaction led investigators to the Account Owner, a young man residing in Hamilton, Canada.

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The scammer was arrested for stealing over $5,000 and possessing illegally obtained goods or products. Hamilton Police have made multiple seizures of cryptocurrencies but have only been able to recover just over C$7 million so far. Far from the stolen 46 million. The suspect is due to be brought to justice soon.

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