Moroccan Man Charged with Stealing Cryptocurrency and NFTs
A Moroccan man has recently been charged with multiple counts related to a scheme to steal nearly $500,000 worth of cryptocurrency and non-fungible tokens (NFTs) from a victim in the United States.
Soufiane Oulahyane, 25, is accused of running a phishing website that mimicked the popular NFT marketplace OpenSea. By tricking victims into visiting his fraudulent site, Oulahyane was able to gain access to their cryptocurrency wallets and steal their funds and NFTs.
According to reports, Oulahyane utilized paid advertising to ensure that his phishing website appeared at the top of search results for “OpenSea” in September 2021. Victims unknowingly interacted with the fake site, thinking it was legitimate, and entered their login credentials, which were then sent directly to Oulahyane.
One victim from Manhattan fell prey to this scam on September 26, 2021, by providing their crypto wallet seed phrase to Oulahyane. The fraudster allegedly used this information to gain unauthorized access to the victim’s wallet, transferring funds to his own wallet and selling numerous NFTs on OpenSea, resulting in a total profit of $448,923.
Oulahyane now faces charges of wire fraud, unauthorized access device use, transactions involving an access device for financial gain exceeding $1000, and aggravated identity theft. If convicted, he could receive a maximum combined sentence of 47 years in prison.
In a separate incident reported earlier this year, an unidentified threat actor targeted OpenSea customers with phishing emails, leading to the theft and sale of NFTs worth over $2 million in Ethereum. These emails coincided with an article about an upcoming contract upgrade on OpenSea.
While the individual responsible for this campaign remains unknown, Oulahyane is currently in custody in Morocco on unrelated charges, according to the Department of Justice.
The rise of NFT-related crimes highlights the importance of remaining vigilant and cautious when dealing with digital assets. As the popularity of cryptocurrency and NFTs continues to grow, individuals must take proactive steps to protect their investments and personal information from cybercriminals.