Security News > 2021 > November > Canadian teen nabbed in $36.5M crypto heist – possibly the biggest haul yet by a single individual

A Canadian teenager has been arrested for allegedly stealing $37 million worth of cryptocurrency via a SIM swap scam, making it the largest virtual cash heist affecting a single person yet, according to police.

"The joint investigation revealed that some of the stolen cryptocurrency was used to purchase an online username that was considered to be rare in the gaming community," according to a statement from Hamilton Police.

US government to hawk cryptocurrency to recover funds for defrauded investors.

The Department of Justice and the US Attorney's Office for the Southern District of California will start selling off $56 million worth of cryptocurrency to liquidate assets from a sham cryptocurrency startup accused of running a Ponzi-like scheme.

It's the largest single amount yet recovered from a cryptocurrency fraud case by the government.

"The government will maintain custody of the seized proceeds in cryptocurrency wallets and intends to use these funds to provide restitution to the victims pursuant to a future restitution order by the court at sentencing."

News URL

https://go.theregister.com/feed/www.theregister.com/2021/11/18/canadian_cryptocurrency_heist/