Cryptocurrency fraud perpetrator Nicholas Truglia has been sentenced to an additional 12 years in prison for orchestrating a $20 million theft through SIM swapping attacks targeting digital asset holders. This sentencing supplements his prior 18-month term issued in December 2022 for identical criminal conduct.
The scheme involved intercepting victims’ phone numbers via SIM swapping to bypass security protocols, enabling unauthorized transfers from cryptocurrency wallets. Truglia’s fraudulent activities resulted in the theft of digital assets valued at approximately $20 million before his apprehension.
Truglia pleaded guilty to conspiracy to commit wire fraud prior to receiving the initial sentence. The extended prison term reflects increased judicial scrutiny toward technology-facilitated financial crimes amid evolving cryptocurrency security challenges.