British Man Charged in $784,000 Crypto-Currency Theft
A 22-year-old man from Britain has been indicted by the United States in connection with the 2019 theft of crypto-currency worth approximately $784,000.
SIM Swap Attacks
Joseph James O’Connor, also known as “PlugwalkJoe,” is accused of conspiring with others to carry out SIM swap attacks against executives of a crypto-currency company in Manhattan, New York. During a SIM swap attack, cyber criminals gain control of a victim’s mobile phone number, allowing them to access accounts registered to that number.
The Theft
An indictment alleges that O’Connor and his co-conspirators successfully carried out a SIM swap attack in April 2019, gaining unauthorized access to accounts and computer systems belonging to the victim’s employer. They then stole approximately 770.784869 Bitcoin cash, 6,363.490509 Litecoin, 407.396074 Ethereum, and 7.456728 Bitcoin.
Money Laundering
After stealing the crypto-currency, O’Connor and his accomplices laundered it through numerous transfers and exchanges, converting some of it into Bitcoin using cryptocurrency exchange services. O’Connor faces charges of conspiracy to commit computer hacking, wire fraud, aggravated identity theft, and money laundering.
Arrest in Spain
O’Connor was arrested in Estepona, Spain, on July 21 in connection with the July 2020 hack of Twitter, where over 130 accounts were compromised. The charges against O’Connor highlight the growing threat of cyber crimes involving crypto-currency and the need for increased security measures in the digital space.