Crypto Thief Don Get 12-Year Sentence for $20M SIM-Swap Attack
Crypto thief Nicholas Truglia gatch 12 years prison sentence afta e fail repay more than $20M wey e steal for 2018 SIM swap attack. U.S. District Judge Alvin K. Hellerstein upgrade di original 18-month sentence and supervised release wey Truglia get from 2022 when the convicted crypto thief knack waka from di people wey dey try collect, shift di stolen money go Bitcoin, and spend am for fine fine tins. Court documents show how Truglia intercept security codes from entrepreneur Michael Terpin’s accounts. E show for public say e dey keep di stolen crypto, dat one make di judge pass di federal guidelines. Dis case show how dem dey look di law well well for digital asset theft, di serious risk wey SIM swap attacks still dey carry, and how di courts wan make sure say make people pay back for crypto crime cases.
Neutral
The 12-year sentence wey dem give Nicholas Truglia no go directly affect Bitcoin price, as e show say na law enforcement dem dey do not market fundamentals. For short term, traders fit notice say dem dey more aware of risks wey dey SIM swap vulnerability, but the ruling no change Bitcoin supply or demand. For long term, stronger legal deterrence fit boost institutional confidence as e go reduce theft risk, supporting neutral outlook for market stability.