A sim-swapping ring targeted $400m in stolen funds

BrianKrebs: Krebs, why do you write so much about SIM-swappers? Why don’t you write more about real criminals instead of these skids all the time?

https://arstechnica.com/tech-policy/2024/01/sim-swapping-ring-stole-400m-in-crypto-from-a-us-company-officials-allege/
image: An Ars Technica story dated Jan. 30, 2024 reads: SIM-swapping ring stole $400M in crypto from a US company, officials allege
Scheme allegedly targeted Apple, AT&T, Verizon, and T-Mobile stores in 13 states.

This is what got me interested in this article SIM-swapping ring stole $400M in crypto from a US company, officials allege which goes in to the topic.

First, it tells about a group of three who was responsible for the alledged $400m that was part of the title of the article itself.

A recent indictment alleged that Robert Powell—using online monikers “R,” “R$,” and “ElSwapo1″—was the “head of a SIM swapping group” called the “Powell SIM Swapping Crew.” He allegedly conspired with Indiana man Carter Rohn (aka “Carti” and “Punslayer”) and Colorado woman Emily Hernandez (allegedly aka “Em”) to gain access to victims’ devices and “carry out fraudulent SIM swap attacks” between March 2021 and April 2023.

The article doesn’t talk about the other two, but they must give back the money as well as the first suspect forfit $900k in additional money.

They hit multiple states.

Powell’s accused crew allegedly used identification card printers to forge documents, then posed as victims visiting Apple, AT&T, Verizon, and T-Mobile retail stores in Minnesota, Illinois, Indiana, Utah, Nebraska, Colorado, Florida, Maryland, Massachusetts, Texas, New Mexico, Tennessee, Virginia, and the District of Columbia.

The major phone carriers fell for this as they usually do.

According to the indictment, many of the alleged victims did not suffer financial losses, but those that did were allegedly hit hard. The hardest hit appears to be an employee of a company whose AT&T device was allegedly commandeered at a Texas retail store, resulting in over $400 million being allegedly transferred from the employee’s company to co-conspirators’ financial accounts. Other individual victims allegedly lost cryptocurrency valued between $15,000 and more than $1 million.

Finally,

Powell has been charged with conspiracy to commit wire fraud and conspiracy to commit aggravated identity theft and access device fraud, Special Agent Brent Bledsoe said in the indictment. This Friday, Powell faces a detention hearing, where he has been ordered by the US Marshals Service to appear in person.

He didn’t have any further comment for the story according to the article and his attorney.

Brian Krebs was also quoted in this article.

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