United States blockchain and crypto investor Michael Terpin has received $75.eight million in a civil case in opposition to 21-year-old Nicholas Truglia, who reportedly defrauded him of crypto belongings. Reuters reported the information on Could 10.
Per the report, the California Superior Court docket final week ordered Manhattan resident Truglia to pay the quantity above in compensatory and punitive damages. The quantity is reportedly one of many largest courtroom judgments awarded to a person within the crypto house to this point, Reuters notes.
As beforehand reported, Terpin filed the criticism in opposition to Truglia particularly in late December, after first submitting a lawsuit in opposition to AT&T final August. Terpin accused the agency of negligence that allegedly allowed the suspect to realize management over Terpin’s cellphone quantity and steal nearly $24 million price of crypto.
Truglia and different members allegedly took management over Terpin’s tokens by transferring his cellphone quantity beneath their management, resetting passwords and accessing his on-line accounts. Truglia was reportedly arrested in November for stealing $1 million in crypto additionally through SIM swapping.
As Cointelegraph reported yesterday, the U.S. Division of Justice launched a fifteen-count indictment on Could 9 that prices a hacking group labeled “The Group” with SIM swapping as a way to steal cryptocurrencies.