Crypto scammer faces 18 months in prison

Due to his involvement in a well-known crypto scam, a young man faces prison time. According to Bloomberg, a federal judge has given Nicholas Truglia, 25, an 18-month prison sentence for allegedly participating in a scheme in 2018 that resulted in the theft of $22 million in cryptocurrency from blockchain advisor Michael Terpin.

Crypto scammer faces 18 months in prison

After gaining access to the consultant's phone, the perpetrators are said to have asked Truglia to exchange the Triggers tokens that they had stolen from Terpin for Bitcoin. It has been said that Truglia was a part of a larger criminal organization that used SIM swapping, or transferring victim phone numbers to SIM cards controlled by attackers, a lot to rob crypto industry figures.Following a private investigation, Terpin successfully recouped some of his losses by accusing a teenager from New York State of leading the group.The teen named Truglia and two others as co-conspirators.
The only member of the group facing criminal charges is Truglia, who already faces civil penalties of close to $80 million for his alleged involvement.According to defense attorney Jeffrey Udell, Truglia's autism made it harder for him to comprehend the real-world consequences of the theft, which may have contributed to the relatively light sentence.