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Crypto Scam: 48 Year-Old Man Loses $27K BTC in Sim Swapping

Crypto Scam 48 Year-Old Man Loses $27K BTC in Sim Swapping
  • A 48 year-old man has lost almost over $27,000 worth of bitcoin in Daly City.
  • According to the report, the man received a text message from an unknown person.
  • The scammer claimed he worked from US telecommunication giant T-Mobile.

According to a report, a 48-year-old man claims he lost over $27,000 Bitcoin through a SIM swapping crypto scam in Daly City. The victim remains unnamed.

The man received a text message from an unknown person who claimed to work from US major telecom company T-Mobile. According to him, the text claimed that he repeatedly tried to change his T-mobile account password, prompting T-Mobile to freeze the account.

He later received a new passcode in his old email account which he previously used for his Bitcoin account setup. Shortly after the email, he had a call from a blocked number who also identified himself as an operator for Ledger crypto wallet hardware holding his BTC.

As a matter of fact, the caller told the man that his Bitcoin account has been compromised. Consequently, he took the man’s passcode along with some vital anonymous account identification numbers.

Upon checking his Bitcoin account, the man realized that all his BTC funds have gone missing. As a result, he reported the case to the Daly City Police Department. He told the police that he had fallen victim to a SIM swapping crypto scam.

Previously, a teenage hacker from Montreal has been accused of defrauding millions of dollars in cryptocurrency. According to Infosecurity Magazine, the accused also used SIM swapping.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.