Teen Crypto Hacker Surrenders $3.1M Bitcoin and Sports Car To Authorities

The United States government has reportedly compelled a teenage crypto hacker to surrender approximately $3.1 million worth of Bitcoin and a sports car.

Teaming up with two accomplices, the teenager reportedly hijacked phone numbers of crypto executives and investors to drain their crypto wallets.

The Hacker Partook in SIM Swapping

According to a recent local report, Ahmad Wagaafe Hared resides in Arizona. However, since he targeted victims in Northern California, the alleged crypto hacker’s case will be heard in San Francisco’s federal court.

Hared reportedly acquired the personal contact information of crypto executives and investors. He would then reach out to cell phone providers, deceiving them into believing he was the legitimate owner of those phone numbers.

“Hared’s team would then allegedly transfer the targeted phone number over to their own phone; this is known as SIM swapping.”

Read more: How To Identify a Scam Crypto Project

According to the report, once Hared gained access to the phone number, he proceeded to breach email and other private accounts. The ultimate goal was to infiltrate the victims’ crypto wallets and abscond with all the funds.

Last week, a federal judge issued an order to seize 119.8 Bitcoin from Hared, equivalent to around $3.09 million. At the time of publication, Bitcoin’s price was $25,765.

Bitcoin Price Chart 1 Month. Source: BeInCrypto

In addition, 93,420 Stellar coins worth $11,770 were confiscated. They also seized a BMW sports car valued at approximately $60,000.

Increase In Hacks In Recent Times

Numerous reports have surfaced in recent times detailing crypto hacks that have resulted in significant financial losses for victims.

On July 26, a report revealed that hackers have been focusing their efforts on macOS devices to pilfer cryptocurrencies using malware known as Realst.

The hackers instruct the victims to install a Web3 game, yet the folder harbors a file that pilfers information from users’ devices. Another file seizes data from iCloud Keychain, encompassing passwords and private keys for crypto wallets.

One of the victims used X to share that he believed the game appeared legitimate and serious, unaware that he was falling victim to a scam. “Project look serious, plenty of docs, Twitter with followers, Discord with hundreds of users. Before the meeting I decide to test it, there is a real playable game,” he stated.

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