Canadian Teen Convicted in $37M Bitcoin Heist and 2020 X Hacking Spree

Key Points

1. Cameron Redman was convicted and ordered to pay compensation, including a $60,000 fine and $248,257.07 in restitution, for his involvement in the theft.

2. He used a SIM swap attack in February 2020 to steal 1,547 BTC and 60,000 BCH (worth $37 million at the time) from crypto investor Josh Jones by bypassing two-factor authentication.

3. Redman also sold access to an internal X panel on SWAPD for 250 ETH, leading to the compromise of over 10 accounts and theft of documents.

4. Authorities recovered $5.4 million in crypto, but $31.5 million remains unrecovered; the suspect's identity was sealed.

5. ZachXBT highlighted the rise in SIM swap incidents, with a 1,055% increase in the UK in 2024, and noted phishing as a key method used by cybercriminals like North Korea’s Lazarus.