According to the Reuters report, a US crypto investor on Thursday sued a New York high school senior, accusing the 18-year-old of defrauding him out of millions of dollars in digital currencies. The US investors alleged that the 18-year old boy was the mastermind behind the cybercrime scheme that scammed $23.8 million in cryptocurrency from him. The plaintiff, Michael Terpin, has accused Ellis Pinsky of New York, and his alleged co-conspirators for stealing millions in crypto back in January 2018.
The plaintiff is seeking $71.4 million in damages.
The plaintiff, Micahel Terpin, is seeking triple damages from the 18-year old boy, who allegedly stole $23.8 million worth of crypto from him. The plaintiff is seeking $71.4 million in damages. Terpin said in the complaint that on the surface, Pinsky is an all American Boy, but tables are turned now. Terpin further alleged in his complaint that Pinsky and his co-conspirators stole from victims after gaining control of their smartphones via “SIM swaps,” and that Pinsky bragged to his friends that he would never get caught. The plaintiff is also suing his carrier AT&T Mobility in Los Angeles for $240 million for not acting swiftly to stop sim swapping from happening.
Ellis Pinsky was 15 years old when the crime was committed.
As of now, Ellis Pinsky has not made any comments about the accusations made by the plaintiff. In January 2018, Pinsky was 15 years old when the crime was committed according to the complaint. The plaintiff accused Pinsky and his alleged co-conspirators, which were not identified by name in the complaint, of violating federal laws for racketeering and computer fraud. The plaintiff in the case had won a $75.8 million lawsuit in a related case in a California state court against Nicholas Truglia. Trugia is an alleged Pinsky associate who has faced criminal hacking charges in California and New York.
SIM swapping has been a severe concern in the crypto community as this method allows the scammer to intrude into the victim’s cell phone and gain total control over all applications, including exchange and crypto wallets accounts.
