19-YEAR OLD SUSPECT CHARGED WITH $1 MILLION CRYPTO HEIST VIA SIM-SWAPS

Last updated: June 19, 2025, 19:33 | Written by: Raoul Pal

The world of cryptocurrency, while promising immense potential, also presents a breeding ground for sophisticated cybercrime. In the United States, a 19-year old man has been arrested for stealing $1 million worth of crypto using a SIM-swapping scheme. 19-Year Old Suspect Charged With $1-Million Crypto Heist via SIM-SwapsA recent case highlights this vulnerability with stark clarity: a 19-year-old individual, Yousef Selassie, has been indicted for allegedly orchestrating a $1 million cryptocurrency heist through a complex SIM-swapping scheme.This isn't just a story about stolen digital assets; it's a cautionary tale about identity theft, digital security, and the evolving tactics of cybercriminals. A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States.[BREAK] A news release published on Dec. 18 by Manhattan District Attorney Cyrus R. Vance alleged that Yousef Selassie, 19, conducted a complex SIM-swapping scheme targeting residents across 20 different states.[BREAK] SIM-swappingUS authorities allege that Selassie stole the identities of at least 75 victims across 20 different states, leveraging this stolen information to gain control of their mobile phone numbers and ultimately, their cryptocurrency accounts. A 19-year-old Brooklyn man is accused of stealing more than $1 million in cryptocurrency in a sophisticated SIM swapping identity theft scheme, prosecutors say.This case underscores the critical need for individuals and institutions alike to strengthen their defenses against these increasingly prevalent and sophisticated attacks. A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States.The Manhattan District Attorney, Cyrus R.Vance, has publicly announced the indictment, bringing attention to the growing threat of SIM-swapping and its devastating consequences.But what exactly *is* SIM-swapping, and how can you protect yourself from becoming the next victim?

Understanding SIM-Swapping and Cryptocurrency Theft

SIM-swapping, also known as SIM hijacking, is a type of identity theft where criminals trick mobile carriers into transferring a victim's phone number to a SIM card they control. US authorities have indicted a man for stealing over $1 million in digital currencies using the SIM swapping technique. According to Wednesday s announcement by the Manhattan district attorney, Yousef Selassie, a 19-year old man, stole the identity of at least 75 victims to steal the Cryptocurrencies.Once they have control of the phone number, they can intercept text messages and phone calls, including two-factor authentication (2FA) codes used to secure online accounts, including cryptocurrency exchanges and wallets.This allows them to bypass security measures and gain unauthorized access to sensitive information and, ultimately, digital assets. New York City resident Nicholas Truglia, 21, was arrested in Manhattan in November and implicated in at least 11 SIM swap cases, with victims including a San Francisco man who lost $1 million inThe 19-year-old Yousef Selassie, accused of a $1 million crypto heist, allegedly exploited this method on a large scale, impacting numerous victims across the United States.

How SIM-Swapping Works: A Step-by-Step Breakdown

Information Gathering: The attacker gathers personal information about the victim through various means, such as phishing emails, social engineering, or data breaches. Septem, 1:02pm. Screenshot via ZachXBT. A recent investigation has uncovered a crypto heist of $243 million worth of digital currency from one guy.This information can include names, addresses, dates of birth, and social security numbers.
Contacting the Mobile Carrier: Armed with the victim's personal information, the attacker contacts the victim's mobile carrier, impersonating the victim.
Social Engineering: The attacker uses social engineering tactics to convince the mobile carrier to transfer the victim's phone number to a SIM card controlled by the attacker. Harris is being held in the Elmwood men s jail on $1 million bail. Kalvin Ung was arrested Dec. 20 in Fresno and later charged with a SIM swap ploy targeting 12 victims for a total loss of $500,000, after a Bay Area resident reported a cryptocurrency theft last fall. He is being held without bail at the Elmwood men s jail.This often involves lying about a lost or damaged phone, or claiming to be the victim and needing to reactivate service on a new device.
Account Access: Once the phone number is transferred, the attacker can intercept SMS-based two-factor authentication codes and gain access to the victim's online accounts, including email, social media, and cryptocurrency accounts.
Cryptocurrency Theft: With access to the victim's cryptocurrency accounts, the attacker can transfer funds to their own wallets, effectively stealing the victim's digital assets.

The Yousef Selassie Case: Details of the Alleged $1 Million Heist

According to the indictment, Yousef Selassie allegedly targeted at least 75 victims across 20 different states, amassing over $1 million in stolen cryptocurrency. A 19-year old U.S. resident has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 American victimsThe Manhattan District Attorney's office claims that Selassie utilized sophisticated SIM-swapping techniques to gain access to victims' accounts and transfer their digital currencies. A 19-year-old man has been arrested in California and charged with the theft of more than $1 million worth of cryptocurrency in a complex SIM-swapping scam. According to a press release published by the Manhattan District Attorney, Cyrus R. Vance, on Dec. 18, the suspect, Yousef Selassie, allegedly carried out this fraudulent act by stealingThe investigation is ongoing, but the details released thus far paint a picture of a well-planned and executed cybercrime operation.

The news release from Cyrus R. In a recent case that has sent shockwaves through the cryptocurrency community, a 20-year-old Florida man, Jordan Persad has been sentenced to 30 months in prison for his involvementVance highlights the severity of the crime and its impact on individuals. The U.S. Marshals Service of the Department of Justice has arrested the main suspect in the $240 million crypto theft from Genesis. The arrest of 19-year-old Veer Chetal (known as Wiz ), who allegedly played the leading role in the 2025 heist of crypto lender Genesis totaling $243 million, was reported by blockchain investigator ZachXBT.The alleged actions of Yousef Selassie have resulted in significant financial losses for dozens of people, and serve as a stark reminder of the vulnerabilities in our increasingly digital world. A 19-year old U.S. resident has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 American victims. A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States. A MoreThe case is being handled in the New York Supreme Court.

The Broader Landscape of Cryptocurrency Crime

The Yousef Selassie case is not an isolated incident.SIM-swapping and other forms of cryptocurrency theft are on the rise, fueled by the increasing value of digital assets and the relative ease with which these crimes can be committed.The anonymity offered by cryptocurrencies, combined with lax security measures on some exchanges and wallets, makes them an attractive target for cybercriminals.

Rising Trends in Cryptocurrency Crime

SIM-Swapping: As demonstrated by the Selassie case, SIM-swapping remains a prevalent method for gaining unauthorized access to cryptocurrency accounts.
Phishing: Phishing scams, where attackers impersonate legitimate entities to trick victims into revealing their login credentials or private keys, are also common.
Malware: Malware designed to steal cryptocurrency wallets or private keys is increasingly sophisticated and difficult to detect.
Ransomware: Ransomware attacks, where attackers encrypt a victim's computer or data and demand a ransom in cryptocurrency for its release, are also on the rise.
Exchange Hacks: Cryptocurrency exchanges remain a prime target for hackers, who can steal vast amounts of digital currency in a single breach.

Protecting Yourself from SIM-Swapping and Cryptocurrency Theft

While the threat of SIM-swapping and cryptocurrency theft is real, there are steps you can take to protect yourself and your digital assets. 19-Year Old Suspect Charged With $1 Million Crypto Heist via SIM-SwapsImplementing robust security measures and staying informed about the latest scams and threats can significantly reduce your risk of becoming a victim.

Actionable Steps to Enhance Your Security

Use a Strong Password Manager: Generate and store strong, unique passwords for all your online accounts, including your email, social media, and cryptocurrency accounts.Don't reuse passwords across multiple sites.
Enable Two-Factor Authentication (2FA): Enable 2FA on all your accounts, but avoid SMS-based 2FA. Um residente dos EUA de 19 anos foi indiciado por roubo de identidade, como parte de um suposto golpe com criptomoedas no valor de US$ 1 milh o, que afetou pelo menos 75 v timas americanas. Suspeito de 19 anos acusado de roubar US$ 1 milh o em criptomoedasInstead, use an authenticator app like Google Authenticator, Authy, or Microsoft Authenticator, or a hardware security key like a YubiKey.SMS-based 2FA is vulnerable to SIM-swapping attacks.
Be Wary of Suspicious Emails and Phone Calls: Be extremely cautious of emails and phone calls asking for personal information, especially if they are unexpected or unsolicited. SINGAPORE In just seven short years, Malone Lam Yu Xuan went from being a student in a secondary school in Choa Chu Kang to being dubbed crypto whizz-kid by some in the US in 2025. Many whoNever click on links or download attachments from suspicious sources.
Secure Your Mobile Account: Contact your mobile carrier and add extra security measures to your account, such as a PIN or password required for any changes to your account. According to recent information, the US authorities have charged a 19-year-old known as Yousef Selassie with theft of $1 million in cryptocurrency. The accused supposedly used a technique calledInquire about SIM lock features if offered.
Monitor Your Accounts Regularly: Regularly monitor your bank accounts, credit reports, and cryptocurrency accounts for any unauthorized activity.Report any suspicious activity to your bank, credit card company, or cryptocurrency exchange immediately.
Consider a Hardware Wallet: For storing large amounts of cryptocurrency, consider using a hardware wallet, which stores your private keys offline and is much more secure than a software wallet.
Educate Yourself: Stay informed about the latest scams and threats in the cryptocurrency space.Be aware of the tactics used by cybercriminals and learn how to recognize and avoid them.

The Importance of Law Enforcement and Regulatory Action

Cases like the one involving Yousef Selassie highlight the crucial role of law enforcement in combating cryptocurrency crime. Skip to main content Bitcoin Insider. MenuStrong investigative efforts and successful prosecutions can deter future attacks and bring perpetrators to justice. Coin Telegraph: A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States. 19-Year Old Suspect Charged With $1 Million Crypto Heist via SIM-SwapsFurthermore, regulatory action is needed to address the vulnerabilities in the cryptocurrency ecosystem and to create a safer environment for users.

What is Being Done to Combat Crypto Crime?

Increased Law Enforcement Focus: Law enforcement agencies around the world are dedicating more resources to investigating and prosecuting cryptocurrency crime.
Enhanced Regulatory Frameworks: Governments are working to develop regulatory frameworks for cryptocurrencies that address issues such as money laundering, fraud, and investor protection.
Industry Collaboration: Cryptocurrency exchanges and other industry stakeholders are collaborating to share information and best practices for preventing and detecting crime.
Technological Advancements: Blockchain analytics firms are developing tools to track and analyze cryptocurrency transactions, helping law enforcement identify and prosecute criminals.

What are the common questions about SIM-Swapping and Crypto Heists?

Many people have questions about SIM-swapping and its implications for cryptocurrency security. This post was originally published on this site. A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the UnitedHere are some of the most frequently asked questions:

FAQ: SIM Swapping and Cryptocurrency Security

Q: What makes SIM-swapping so effective?
A: SIM-swapping exploits a vulnerability in the way mobile carriers authenticate customers.By impersonating the victim and convincing the carrier to transfer the phone number, the attacker gains control of a critical security layer used for two-factor authentication.
Q: Can I get my cryptocurrency back if I'm a victim of SIM-swapping?
A: Recovering stolen cryptocurrency can be difficult, but not impossible.Report the crime to law enforcement and the cryptocurrency exchange immediately. Next month, in August, police in California arrested another alleged SIM swapper, a 19-year old Xzavyer Narvaez. Narvaez is accused of seven counts of computer crimes, identity fraud, and grandSome exchanges may have insurance policies or recovery programs that can help compensate victims.
Q: Are there any mobile carriers that are more secure than others?
A: Security practices vary among mobile carriers.Contact your carrier and inquire about the security measures they have in place to prevent SIM-swapping and other forms of identity theft. A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States. A news release published on Dec. 18 by Manhattan District Attorney Cyrus R. Vance alleged that Yousef Selassie, 19, conducted a complex SIM-swapping scheme targeting residentsAdvocate for stronger authentication protocols.
Q: Is there a way to completely eliminate the risk of SIM-swapping?
A: While you can't completely eliminate the risk, you can significantly reduce it by taking the precautions outlined above, such as avoiding SMS-based 2FA and securing your mobile account with a PIN or password.
Q: What should I do if I suspect I'm a victim of SIM-swapping?
A: If you suspect you're a victim of SIM-swapping, immediately contact your mobile carrier to report the incident and regain control of your phone number.Also, report the crime to law enforcement and notify any cryptocurrency exchanges or financial institutions that may be affected.Change all your passwords.

Similar Cases and Lessons Learned

The Yousef Selassie case is unfortunately not unique.Several other high-profile SIM-swapping cases have emerged in recent years, highlighting the need for greater awareness and stronger security measures.These cases offer valuable lessons for individuals and institutions alike.

For instance, the case of Jordan Persad, a 20-year-old Florida man sentenced to 30 months in prison for his involvement in SIM-swapping, shows the potential legal consequences for perpetrators. A rising trend. The past few years have seen many examples of fraudsters using SIM swaps to drain accounts. A steady drip of them have been arrested for going after cryptocurrency in particular: in March, Joel Ortiz, a 20-year-old SIM-swap scammer accused of stealing $5 million in Bitcoin, copped a plea and was sentenced to 10 years in prison.The case of Kalvin Ung, arrested for a SIM swap ploy targeting 12 victims for $500,000, demonstrates the frequency with which these crimes occur. A 20-year-old man and his co-conspirator have been charged with conspiracy to steal and launder over $230 million in cryptocurrency, and federal authorities said the arrests are connected to an FBI raid of a mansion in Miami. br br According to the U.S. Department of Justice, 20-year-old Malone Lam of Miami and Los Angeles, California, and 21-year-old Jeandiel Serrano of Los Angeles, wereThe Joel Ortiz case, involving the theft of $5 million in Bitcoin, reveals the potential scale of these attacks.

Conclusion: The Ongoing Battle Against Cryptocurrency Crime

The case of the 19-year-old suspect charged with a $1 million crypto heist via SIM-swaps serves as a sobering reminder of the ongoing battle against cryptocurrency crime.While the allure of digital assets continues to grow, so too does the sophistication of cybercriminals seeking to exploit vulnerabilities in the system. 19-Year Old Suspect Charged With $1 Million Crypto Heist via SIM-Swaps Decem TradingBTC A 19-year old man has been indicted for identity theft as part of an alleged $1 million cryptocurrency heist affecting at least 75 victims in the United States.By understanding the risks, implementing robust security measures, and staying informed about the latest threats, individuals and institutions can protect themselves from becoming victims of these increasingly prevalent and damaging attacks.The most important takeaway is to be proactive about your digital security and to treat your online accounts, especially those holding cryptocurrency, with the same level of care you would treat your physical assets.It is important to remember that the fight against cryptocurrency theft requires a multi-faceted approach, including individual vigilance, industry collaboration, and robust law enforcement efforts. A 19-year-old man has been arrested and formally charged in a New York Supreme Court indictment over SIM-swapping identity and crypto theft.Furthermore, avoiding SMS-based 2FA, using strong password managers, and securing your mobile account are vital steps in protecting yourself from SIM-swapping attacks and the potential loss of your hard-earned digital currency. Miami man pleads guilty in failed ransom plot possibly linked to $240M crypto heist 19-year-old Michael Rivas, dressed in a tan prison uniform with his legs shackled during the hearing, apologizedStaying vigilant in this ever-evolving digital landscape is the best defense.