Crooks have stolen tens of millions of dollars and other valuable commodities from thousands of consumers via “SIM swapping,” a particularly invasive form of fraud that involves tricking a target’s mobile carrier into transferring someone’s wireless service to a device they control. But the U.S. Federal Communications Commission (FCC), the entity responsible for overseeing wireless industry practices, has so far remained largely silent on the matter. Now, a cadre of Senate lawmakers is demanding to know what, if anything, the agency might be doing to track and combat SIM swapping.
Unsettling new claims have emerged about Nicholas Truglia, a 21-year-old Manhattan resident accused of hijacking cell phone accounts to steal tens of millions of dollars in cryptocurrencies from victims. The lurid details, made public in a civil lawsuit filed this week by one of his alleged victims, paints a chilling picture of a man addicted to thievery and all its trappings. The documents suggest that Truglia stole from his father and even a dead man — all the while lamenting that his fabulous new wealth brought him nothing but misery.
An entrepreneur and virtual currency investor is suing AT&T for $224 million, claiming the wireless provider was negligent when it failed to prevent thieves from hijacking his mobile account and stealing millions of dollars in cryptocurrencies. Increasingly frequent, high-profile attacks like these are prompting some experts to say the surest way to safeguard one’s online accounts may be to disconnect them from the mobile providers entirely.