US District Court charges two individuals for operating fraudulent SIM swap scheme


  • The two men, Eric Meiggs and Declan Harrington, gained access to victims' phones and social media accounts to steal cryptocurrency.
  • Those two were attempting to target ten people to steal over $500,000 in cryptos.

The US Department of Justice (DOJ), FBI and IRS recently announced that the US District Court in Boston has charged two individuals for performing a nationwide SIM swap scheme. The two men, Eric Meiggs and Declan Harrington, are accused of highjacking victims' phones and social media accounts to steal cryptocurrency

The DOJ stated that the individuals attempted their fraudulent scheme on executives of cryptocurrency companies. Notably, the executives have "high value" social media account names. As per the Block, Meiggs and Harrington gained access to their victims' phone numbers and convincing the phone carriers to reassign their numbers to a SIM card that they possessed. The stolen devices and accounts were then used to reset passwords. It helped them gain access to victims' online cryptocurrency wallets and private keys.

As per DOJ, around 10 individuals were targeted by Meiggs and Harrington across the US. They attempted and managed to steal more than $500,000 in cryptocurrencies from these individuals.

Fraudulent schemes such as this are quite common in the crypto space. Recently in October, an AT&T user sued the wireless carrier. The customer claimed that AT&T failed to protect his account from a SIM swap that led to a theft of over $1.8 million in cryptocurrencies.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BCH/USD rollercoaster swings south to $215

Bitcoin Cash is wrecked after dropping like dead weight in the air. The entire crypto market is in bloodshed as volatility returns. BCH/USD has corrected lower by 3% on the day.

More Bitcoin Cash News

ADA/USD regains ground after sharp sell-off, further recovery is limited

Cardano (ADA) lost over 6.5% of its value on Thursday as the cryptocurrency market moved into red territory. At the time of writing, ADA/USD is changing hands at $0.1228 after a short-lived move to $0.1181.

More Cardano News

ETH/USD may face $200.00 amid growing bearish sentiments

Ethereum (ETH) experienced a sharp sell-off to the intraday low of $229.78 and recovered to $230.80 by press time. The coin has entered a recovery mode; however it is still vulnerable to a new shell-off below $230.00 as the bearish pressure remains strong. 

More Ethereum News

XTZ/USD drops like deadweight

Tezos is among the digital assets in the cryptocurrency market suffering in the hands of the bears. A reversal is underway with bulls scampering for support at $3.00. 

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP