DOJ Seizes $5M Bitcoin from SIM-Swapping Crypto Thefts
In a significant escalation of efforts to combat cryptocurrency-related crime, the U.S. Department of Justice has moved to seize over $5 million in bitcoin allegedly stolen through a series of sophisticated SIM-swapping attacks. The funds, traced through a labyrinth of digital wallets, were purportedly laundered via an online casino, highlighting vulnerabilities in both telecom security and crypto platforms.
The scheme, which unfolded between October 2022 and March 2023, targeted victims across the U.S., exploiting weaknesses in mobile carrier authentication to hijack phone numbers and access linked cryptocurrency accounts. Prosecutors allege that the perpetrators drained millions in digital assets, converting them into…
