A Canadian teenager has been arrested in an international $46-million U.S. cryptocurrency theft.
A joint investigation involving U.S. federal authorities has led police in Hamilton, Ontario to arrest a youth in one of the biggest cryptocurrency thefts to date.
Hamilton police joined forces with the U.S. Federal Bureau of Investigation (FBI) and the United States Secret Service Electronic Crimes Task Force after an investor in the U.S. reported the theft of their cryptocurrency holdings.
Authorities said the victim was targeted by a “SIM swap attack,” which is where a hacker manipulates cell phone carrier employees into duplicating a phone number so two-step authentication requests can be intervened, allowing the hacker to gain access to a victim’s accounts.
As a result of the hack, police said, the victim reported approximately $46 million U.S. worth of digital coins were stolen. According to police, some of the digital money was used to purchase a rare online video game username, which led them to the account holder.
The Hamilton teen, whose name was not disclosed, is facing charges of theft of $5,000 U.S. or more and possession of stolen property or proceeds of property obtained by crime.
