Florida Man Arrested in SIM Swap Conspiracy
Summary: Pasco County, Florida authorities arrested 25-year-old Ricky Joseph Handschumacher on July 18, 2018, charging him with grand theft and money laundering as part of a group of at least nine people accused of draining bank accounts through SIM swaps. Investigators say the group stole 57 bitcoins from one victim in mid-May 2018, then valued at almost $470,000, and that two other victims each reported losing approximately $150,000 in cryptocurrency while a third lost $50,000.
Why it matters: The complaint says the group routinely paid employees at cellular phone companies to assist in the attacks and discussed compromising the T-Mobile and Skype accounts of Gemini's CEO - so the insider at the phone store, not the customer's PIN, is the control that failed.
Read the original at Krebs on Security ↗
- Topics
- Fraud & Scams
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