This cryptocurrency thief got caught… in a video game

The crime was almost perfect. Police in Ontario Canada have announced that they have arrested the suspect in a massive cryptocurrency theft. The man would have embezzled no less than 36 million dollars.

To do this, he used a technique called SIM swap. Concretely, this scam allows the scammer to obtain access to the victim's account as well as a SIM card with his number. He then benefits from two-factor authentication to validate payments, transfers, and, in the case of the targeted person, access to his cryptocurrency portfolio.

Clues to spot to protect yourself from scams

Eventually, Canadian law enforcement was able to track down the suspect. The latter would have used his loot to buy a rare username on a video game. Police did not provide further details about the title in question, or what led them to confuse it.

Either way, this case is a good illustration of the ongoing upsurge in cryptocurrency scams. You don't have to go very far to find an example in the news. We were talking to you at the beginning of the month about the SQUID crypto which has surfed on the popularity of the Squid Game series.

In just a few days, its value went from a penny to $2,861, before collapsing to zero dollars a few hours later. Its creators eventually pocketed $3.38 million before disappearing into thin air.

To guard against risks, it is therefore necessary to be very vigilant. Certain details are sometimes revealing, such as when it is not possible to resell the cryptocurrency. The web pages created for SQUID were also very recent and contained many spelling errors. So many details that have something to alert. Finally, a Telegram channel founded by the scammers gave information but prevented posting comments.