The US Government Forces Teenage Crypto Hacker to Surrender Bitcoin and Sports Car
A teenage crypto hacker has been compelled by the United States government to give up approximately $3.1 million worth of Bitcoin and a sports car. Teaming up with two accomplices, the hacker targeted crypto executives and investors by hijacking their phone numbers to drain their crypto wallets. The hacker, Ahmad Wagaafe Hared, resides in Arizona but will be prosecuted in San Francisco’s federal court since the victims were located in Northern California.
The Hacker Partook in SIM Swapping
Hared obtained the personal contact information of his victims and deceived cell phone providers into thinking he was the legitimate owner of the phone numbers. This allowed him to transfer the targeted phone numbers to his own phone through SIM swapping. Once he gained access to the phone numbers, Hared breached email and private accounts to infiltrate the victims’ crypto wallets and steal their funds. Recently, a federal judge ordered the seizure of 119.8 Bitcoin, 93,420 Stellar coins, and a BMW sports car from Hared.
Increase in Hacks in Recent Times
There has been a rise in crypto hacks that have resulted in significant financial losses for victims. Hackers have been targeting macOS devices using malware called Realst to steal cryptocurrencies. Victims are tricked into installing a Web3 game that actually steals information from their devices, including passwords and private keys for crypto wallets. One victim shared that he believed the game was legitimate and serious, highlighting the importance of being cautious and verifying the authenticity of online offerings.
Hot Take: Crypto Hacks Highlight the Need for Enhanced Security Measures
The case of the teenage crypto hacker highlights the vulnerabilities in the crypto industry and the need for stronger security measures. With the increasing popularity and value of cryptocurrencies, hackers are targeting individuals and organizations to steal funds. SIM swapping and malware attacks are common techniques used to gain unauthorized access to crypto wallets. To protect yourself, it is crucial to be cautious of suspicious requests or downloads, use strong and unique passwords, enable two-factor authentication, and keep your devices and software up to date. Additionally, crypto platforms and service providers should implement robust security protocols to safeguard user funds and personal information.
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