Tech Savvy Student Steals $7.5 Million in Cryptocurrency

[cryptokwuk]

He got off too lightly for the amount of money he stole.  He will probably only end up serving 5 or 6 years as well.

This guy ruined peoples lives permanently and just blew their money on stupid shit.  This guy deserves a harsher punishment.

Absolutely, and it's very sad to see the guy gets adored for his "smarts", apparently by people that don't know what smart exactly means. I suspect his victims are considerably smarter if they made that kind of money in a legitimate way while contributing to society, regardless of them maybe being less tech-savvy.

Just having some tech skills, or being aware of some vulnerabilities doesn't make you smart.

[Ailmand]

It's disappointing that there are people like Ortiz who would hack the earnings of others just to sustain his life. He deserves to be in jail and I pity the victims more than him. We all know how hard it is to earn bitcoin these days and losing our investments would lead us to depression. I have my sympathy for the victims.

[Kemarit]

I'm not surprised by his skill but by the few targets in which he managed to steal $7.5 million worth in crypto from. I mean, who are these people he stole from? Are they some sort of high-profile individuals and didn't notice that they have been robbed?

That is the interesting part. He must have carefully analyzed these particular individuals over a specific period of time and performed the theft in a smart manner without anyone noticing until now.

Just like any criminals out there, they usually "case" their victims, stalking them for weeks or even months and then take that one shot to steal your money under your nose.

They acquired $400k from him and it looks like the rest has already been spent or well hidden. Good riddance.

Yeah, good riddance. He has the talents, unfortunately, he didn't put it to good use but instead chooses the life of a criminal and now he is behind bar.

[Nolimitz84]

According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.

By and large, he stole the entire amount from only one rich man.The theme of the post is perceived by everyone as if everyone should admire a young student who was able to steal the money.But in fact, this student could spend time with sense and direct their skills in the right and legitimate direction.And so all these skills will remain with him for another 10 years ....

[okala]

No sane person will admire a fraudulent act no matter how smart and skillful the perpetrator may be, Ortiz among other scammers can as well channelled this skills into developing something that will better the lots of our security challenge's today and help preventing such occurrence and safe potential victims and the world will celebrate the skillfulness.

[kryptqnick]

Joel Ortiz, a skilled SIM Swapper was caught and arrested back in May 2018. On April 22nd 2019, the District Attorney’s Office of Santa Clara County made their formal announcement about his sentence – 10 years in prison.

Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.

According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.

https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/

I think he got what he deserved. It's not okay to steal money, even if you're a smart hacker. It's nice that he was convicted of his crime, even though it involved cryptos, not fiat. If he is just 21, he will still have time to live ab interesting life after prison. Maybe he'll use his abilities for good next time. After all, rethinking one's principles is what being in prison is partially about.

[carlfebz2]

Joel Ortiz, a skilled SIM Swapper was caught and arrested back in May 2018. On April 22nd 2019, the District Attorney’s Office of Santa Clara County made their formal announcement about his sentence – 10 years in prison.

Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.

According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.

https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/

I think he got what he deserved. It's not okay to steal money, even if you're a smart hacker. It's nice that he was convicted of his crime, even though it involved cryptos, not fiat. If he is just 21, he will still have time to live ab interesting life after prison. Maybe he'll use his abilities for good next time. After all, rethinking one's principles is what being in prison is partially about.

He might get a lesson learned after being sentence to be in prison for a more than a decade.After that he might either change his motives in life or would still continue the hacking but more careful this time.
He do wasted up his talent rather than using it on blackhat it would be better if he do apply for something else which is legal. Each theft/hacking case would really have corresponding consequences.
For the age of 21 which is too young to get in prison but it is just right.

[vit05]

Stealing cryptos using SIM cards is not a problem with cryptos. But that the cryptos could solve. In Brazil this practice of crimes is being done using whatsapp. The victim's cell phone is cloned and the thief asks for money from close friends as if he were the victim.

SIM cards are not reliable. Your mobile number can not be your only 2fa method as it can be easily cloned or stolen.

[Zooming]

This is the reason that i personally wouldn't want to store bitcoin on my phone.

[ahmadinejad93]

When Ortiz was arrested, law enforcement groups investigating IT crimes only managed to confiscate $ 400,000. I read some written media in the announcement, Joel Ortiz after committing his crime. he spent the illicit money on club parties, expensive clothes, etc., and even hired a helicopter to get to a music festival, this was really crazy what he did.

[ecnalubma]

Another life to be wasted in prison, I thought he was intelligent I wonder he doesn’t know the consequences of he’s doings. Well its unfortunate for the victims to get hacked that easy they’ve been hacked thousand or millions but couldn’t provide a decent storage for their digital assets.

[Indrawan77]

What a bad person, why people like to take shortcut to make them rich, he should be sentences to dead, imagine how people saved the crypto then suddenly being stolen, I don't think the criminal had spend all the crypto, it's hidden in a very secure place and something like this that makes the people and the government got a negative label on crypto

[CryptoBry]

Ortiz was a smart hacker and yet I don't admire him because he spent all the money with worthless things. That was too huge and he just spent it with his friends. He's too young and will be spending 10 years in prison, I pity him but I guess he should pay for what he did. That's the reason why we have to handle our mobile numbers well. Hackers could do anything by just using our personal numbers.

Such a great talent and genius can be put to use for the benefit of the cryptocurrency industry. How I wish that instead of victimizing other people, he could have put up his own fintech company offering many good services and products for the whole industry to enjoy. Anyway, he is still young and he can spent 10 years in jail sharpening his skills and I am hope this time around with legitimate activities that can make his own parents, friends and relative so proud. This is a great reminder to people of the same skills and talent to use them well...

[jakezyrus]

Such a great talent and genius can be put to use for the benefit of the cryptocurrency industry. How I wish that instead of victimizing other people, he could have put up his own fintech company offering many good services and products for the whole industry to enjoy. Anyway, he is still young and he can spent 10 years in jail sharpening his skills and I am hope this time around with legitimate activities that can make his own parents, friends and relative so proud. This is a great reminder to people of the same skills and talent to use them well...

Yeah . instead of hacking why cant he just create his own company and form his own team ?  He can contribute in the crypto community while he can help other people at the same time .  or what if he can just apply for a job on the blokchain crypto field ?  I think he will get easily accepted due to his amazing talent and skills but its too late because he already done a serious crime  .

Anyway, he is still young and he can spent 10 years in jail sharpening his skills

How can he sharpen his skills inside a jail ?  I know that there are no computers and gadgets allowed inside a jail  . not unless he is in special treatment or he have a connection inside the jail or he can be able to pay huge amount of sums for a special treatment .

[omone1]

This is ridiculous and undeserving. For a 21years old to be using his tech skill for the wrong operation. $7.5M is a huge cash to dare with. This is why securing our fund should be consider very important and never to loos guard in any security feature possible.

[pundit]

I appreciate Joel Ortiz tech skills, Its not easy to hack crypto wallets of 40 people and that too for this high amount but he used his skills for the wrong cause and for this reason he has waste his 10 precious years in jail. If he could have used his skills in positive manner then he might have opened his first door towards success. Stealing someone's hard earned money is a crime and Joel Ortiz has to pay for that.

[vapourminer]

SIM cards are not reliable. Your mobile number can not be your only 2fa method as it can be easily cloned or stolen.

basically this.

however google auth 2fa is not related to a sim. clone or take my phone number and you do not get the google auth seed so its useless. if the phone is physically stolen, one needs to have the phone wipe itself, either automatically or via software command. lots of ways to do that.

so if my phone is cloned or lost or whatever i just get a new phone, manually load the google auth seed for the various sites from the paper backups i made (and get a new seed by turning 2fa off then on again if needed. that gives a new seed) and im on my way. google auth runs on computers and tablets also so i can do the 2fa seed reset with pretty much any device.

[stompix]

Ortiz was a smart hacker

Such a great talent and genius can be put to use for the benefit of the cryptocurrency industry.

I appreciate Joel Ortiz tech skills,

You guys didn't read more than 3 lines of that article, did you?

Joel Ortiz, a skilled SIM Swapper

Do you know what a SIM Swapper is? A guy that goes to a phone company office and tries with a convincing story to have the victim's sim card replaced and handed to him. Then he uses that sim card to have all the passwords of the victim's social media accounts or exchange reset and takes control over them.

There is no "hacking", no "tech-savvy" , he is at the same level as a guy trying to sell snake oil to some morons.

 

[electronicash]

Ortiz was a smart hacker

Such a great talent and genius can be put to use for the benefit of the cryptocurrency industry.

I appreciate Joel Ortiz tech skills,

You guys didn't read more than 3 lines of that article, did you?

Joel Ortiz, a skilled SIM Swapper

Do you know what a SIM Swapper is? A guy that goes to a phone company office and tries with a convincing story to have the victim's sim card replaced and handed to him. Then he uses that sim card to have all the passwords of the victim's social media accounts or exchange reset and takes control over them.

There is no "hacking", no "tech-savvy" , he is at the same level as a guy trying to sell snake oil to some morons.

 

lol well his sob story to the phone company is working and so they replaced the sim. they find it very tech savvy. 

he took an easy route to get millions though, $7M is a lot of money for a student. a house of his own, car, girls and party must have all he got.

[adzino]

Joel Ortiz, a skilled SIM Swapper was caught and arrested back in May 2018. On April 22nd 2019, the District Attorney’s Office of Santa Clara County made their formal announcement about his sentence – 10 years in prison.

Ortiz was a 21-year-old Boston High School valedictorian and was very prolific at stealing cryptocurrency from SIM cards. The announcement states that he had hacked the crypto wallets (worth over $7.5 million) located on mobile phones of over 40 victims.

According to the announcement, it only took Ortiz just a few minutes to steal more than $5.2 million in crypto from one Cupertino cryptocurrency entrepreneur. He performed this theft back in May of 2018.

https://www.bitcrypt.co/tech-savvy-student-steals-millions-cryptocurrency/

I had to read the article after you said "stole crypto currencies from SIM card". I was like, how the hell does someone steal crypto currencies from SIM card. It's not like you can store your coin in a SIM card! But, then yeah, he used victims SIM card to have access to their account.
Sad people are not aware of security. I wonder where have they saved all these huge amount of coins that could be stole by having access to only their phone number...