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Posted at: August 24, 2018 at 11:24AM By: RT @bitcoinpodcasts: Bitcoin Law Review - Is Ripple or Airdrops Securities and Michael Terpin vs AT&T. @ToneVays ht… https://t.co/p44PX04KWP Automate your Trading via Crypto Bot : https://ift.tt/2EU8PEX Join Telegram Channel for FREE Crypto Bot: Crypto Signal
An adviser to blockchain companies is claiming a 15-year-old and his crew of “evil computer geniuses” stole $24 million in cryptocurrency from him by hacking into his phone.Michael Terpin sued Ellis Pinsky in New York Thursday, accusing the teenager of masterminding a “sophisticated cybercrime spree” that targeted him in 2018. Terpin is the founder and chief executive officer of Transform Group, a San Juan, Puerto Rico-based company that advises blockchain businesses on public relations and communications.“Pinsky and his other cohorts are in fact evil computer geniuses with sociopathic traits who heartlessly ruin their innocent victims’ lives and gleefully boast of their multi-million-dollar heists,” Terpin said in his complaint. Now my public relations advice for blockchain businesses would be “don’t get all your Bitcoins stolen by a 15-year-old,” but perhaps that is why I am not a professional public relations adviser to blockchain businesses. In fact “get all your Bitcoins stolen” does seem to be a common approach for many blockchain businesses, and (allegedly) getting them stolen by a 15-year-old who is also an evil computer genius is at least novel and entertaining. At least it makes you stand out from all the other blockchain professionals whose Bitcoins are constantly being stolen. Honestly I can see this being good for Terpin’s business. The number one public relations problem for blockchain companies still seems to be “all of our Bitcoins were stolen,” and if that’s your PR problem, who better to call than a blockchain PR person who got all his Bitcoins stolen by a 15-year-old?
Getting your bitcoin stolen by a 15-year-old? Still good for bitcoin.
‘Baby Al Capone’ Ellis Pinsky pulled off a $23.8 million crypto heist
In January 2018, a team of some half-dozen computer hackers — scattered across Europe and the United States — scammed their way into Michael Terpin’s cryptocurrency account, fleeced it and laundered the funds: some $23.8 million, according to a bombshell lawsuit. Allegedly at the center of the heist was Westchester teen Ellis Pinsky. According to papers filed May 7 in Manhattan federal court, Pinsky is “an evil mastermind.” The suit asks for $71.4 million. The wildest part? Ellis was just 15 years old at the time of the theft. To neighbors and classmates at Irvington HS, he was an ordinary 10th-grader who ran track, played soccer, loved cool sneakers and got good grades. Ellis’ bedroom in the $1.3 million home he shared with his family, including his NYU Langone-physician mother, had three computer monitors for playing his favorite games, Counter-Strike and Call of Duty. But according to an insider, there was at least one unusual thing about Ellis. As related in the complaint, he once allegedly wrote to an acquaintance, “I could buy you and all your family. I have 100 million dollars.” The complaint also alleges that an accomplice saw, in December 2017, “records indicating that Ellis had $70 million.” Ellis and friends partying with champagne at Up&Down nightclub on 14th street. Pals outside the heist apparently viewed Ellis as a virtual-money wunderkind. “His best friend thought he was making money through trading Bitcoin and stock,” the insider said. But the complaint alleges that Ellis was the apparent ringleader in the scheme against Terpin, who is a pioneer in the world of cryptocurrency: “In his early teens, [Ellis] began hacking computers with the mission of accessing his victims’ private accounts where they store their cryptocurrency holdings or private information.” Ellis’ attorney, Noam Biale, told The Post: “Ellis was a child at the time of the alleged conduct . . . It is deeply unfortunate that Mr. Terpin has chosen to bring [a] lawsuit, full of smears and baseless allegations, for no imaginable purpose other than spite.” Video games were allegedly the teen’s gateway to crime. “Ellis is a gamer. That was his primary interest,” the insider said, adding that private video-game chatrooms — where Ellis was allegedly a regular — on platforms such as Discord and Skype are often full of people bragging about hacks. “From there he got interested in stealing cool usernames.” Using a technique known as SIM-swapping, hackers remotely transfer a victim’s digital identity from the SIM card that controls the victim’s phone to a blank SIM card in one of the hackers’ phones. Sometimes this is done to steal a victim’s social-media identity, as “OG handles” — such as @A or @evil — can be sold for big bucks. Ellis also allegedly used SIM-swapping to steal cryptocurrency. Going from nicking names to pulling off multimillion-dollar heists is not that much of a leap, the insider insists: “Once you are in somebody’s phone, stealing valuable names, taking their Bitcoin seems obvious. Plus, stealing crypto is impersonal. For kids who spend their whole lives staring at screens and playing games, it feels natural.” According to Terpin’s attorney Pierce O’Donnell, Ellis and his crowd were always on the lookout for vulnerable marks. As alleged in the complaint, one of the teen’s collaborators, Nick Truglia, specialized in that task. Four years older than Ellis and a onetime finance/economics major at Baruch College, Truglia’s “assignments included . . . obtaining [a victim’s] cellphone and passcode numbers, conning the mobile-phone carrier into giving him or another imposter a new SIM card and then handing the scam off to [Ellis] to execute the hack,” the complaint states. Last year, Truglia was arrested and charged with another hack. He is currently out on bail. In a civil case, a default judgment was issued against him for the Terpin robbery and he was slapped by a California court with a record-setting $75.8 million judgment. Nick Truglia (left) was found guilty on civil charges of stealing cryptocurrency from Michael Terpin (right) — a scheme allegedly led by Ellis Pinsky. The case against Ellis alleges that the teen oversaw the hijacking of Terpin’s BlackBerry — which led to his digital vault, called a “native wallet,” where the $23.8 million was stashed. Forty-eight hours later, said Terpin, the thieves had laundered his virtual cash. “Your phone goes dead and theirs is alive,” he told The Post last year. “Then they own you.” As the alleged ringleader, Ellis apparently had a knack for organizing and bullying. “He would tell everyone what to do [during heists],” said the insider. “He bragged about [the Terpin robbery] being his job. He’s a very smart guy and a control freak. If you pissed him off, he would start texting you from weird numbers and threaten you. He’d call your parents and say weird things.” One such alleged victim was a chat-room pal who lived nearby. According to a 2018 report that the 16-year-old pal filed with Eastchester, NY, police, Ellis “made threats to me about having me or my mom killed” after he accidentally let strangers into their chatroom. Things apparently escalated when the pal was allegedly enlisted by Ellis to help launder the Terpin money and lost some $700,000 after he sent funds to the wrong person. Crypto being what it is, the funds could not be retrieved. After the money went missing, the pal told police, “[Ellis] asked me to start getting him some money through selling drugs, shoes or in any way possible. He requested $3,000 to $4,000 a week.” It is unclear what, if any, action was taken by authorities. **I could buy you and all your family. I have 100 million dollars. – Ellis Pinsky, allegedly threatening an acquaintance** It seems that Ellis was spending his money — converted from cryptocurrency to cash — to live a high life. As per a JetSmarter order form provided to The Post by a source who asked not to be named, Pinsky maintained an account with the private-air service. Additionally, according to the insider, he drove an Audi R8, scored great Rangers hockey seats and dressed in splashy Louis Vuitton and Supreme streetwear. How a kid explains such conspicuous consumption to his parents remains something of a mystery. Said the insider: “I think he told his parents that he made Bitcoin online through video games and got lucky.” The complaint maintains, “Whether [Ellis’] parents were recklessly negligent or worse in failing to monitor and control their wayward son remains to be seen.” Ellis’ fly style helped the teen fit in when carousing with fellow hacker Truglia. A photo viewed by The Post shows Ellis at the nightclub Up & Down, brandishing an open bottle of Dom Pérignon while flanked by slinky young women. Still, the insider said, “He showed little interest in being at the club. After posing for pictures with bottles, he’d go outside.” Even while he was spending, the insider added, Ellis kept an eye on his money. “He had a designer wallet packed with $100 bills but he never liked to pay for anything,” the insider said. “He was an extreme miser. He anticipated retiring from crime after the Terpin heist.” Apparently, he didn’t anticipate getting busted by his alleged victim. After Truglia’s 2019 arrest, Ellis allegedly texted a mutual friend: “[Truglia] is a dumbass . . . and got caught.” ##How Ellis Pinsky allegedly spent his stolen loot: ## Things appear to have unraveled for Ellis during an investigation of the missing crypto. As Terpin attorney O’Donnell listened to recordings between collaborators in the crime, the teen’s name came up as a key participant. O’Donnell told The Post that he contacted Ellis’ mother at her office, and a lawyer returned the attorney’s call. Although Ellis did not admit to anything, he allegedly took unusual action. Soon after, according to the complaint, “Pinsky . . . sent cryptocurrency, cash and a watch to [Terpin] without any condition . . . There was no other reason to repatriate these items — worth nearly $2 million at the time — other than to make a partial repayment of what he had stolen from Terpin.” According to O’Donnell, among the items was a “Patek Philippe Nautilus [watch], worth over $100,000.” As the civil suit hangs — O’Donnell and Terpin anticipate a response from Ellis’ attorney within the next 60 days or so — no criminal charges have been filed against the teen. “I want to know why [prosecutors] have not indicted this kid,” said O’Donnell. “He is caught dead to rights.” A Department of Justice spokesman would only say that “Ellis Pinsky has not been charged by this office.” Terpin admitted to The Post that he waited until Ellis’ 18th birthday earlier this year to file suit against the teen as an adult. That way, Terpin said, “It will be easier to sue him [than it would be if he was a minor] and we’re intending to get treble damages” — repayment of three times the sum stolen. “These are crypto gangsters. My nickname . . . for [Ellis] is Baby Al Capone.’” Ellis, apparently, is still living at his mother’s Irvington home, as a Post photographer spotted him there last week. “Look at Ellis’ life and there is no reason for him to do what he did,” the insider said. “He’s a standout kid with a dark side.” Source: https://thedailyblockchain.news/2020/05/24/baby-al-capone-ellis-pinsky-pulled-off-a-23-8-million-crypto-heist/
US Authorities Arrest Alleged SIM Swappers After Crypto Thefts
The FBI arrested two Massachusetts residents Thursday on charges of attempting to steal cryptocurrency and hijack social media accounts from individuals by “SIM swapping” their phones. According to a press release, the U.S. Department of Justice has charged Eric Meiggs, 21 and Declan Harrington, 20, on counts of conspiracy, wire fraud, computer fraud, abuse and identity theft for allegedly targeting cryptocurrency company executives and other individuals “who likely had significant amounts of cryptocurrency,” as well as those “who had high value or ‘OG’ (slang for ‘Original Gangster’) social media account names.” The two allegedly sought to steal more than $550,000 in cryptocurrency from 10 different individuals, and apparently secured access to two social media accounts. The victims were not identified, though the indictment briefly described several of their connections to the crypto space. One victim owned a bitcoin teller machine, while another ran a “blockchain-based business.” A number of individuals in the cryptocurrency space have fallen victim to SIM swapping, when attackers pose as the owners of a cell phone number, convincing cellular service providers to give them access to the victims’ accounts. By taking control of a cell phone number, attackers are able to log into social media and sometimes crypto exchange accounts, giving them access to users’ holdings and digital presence. Messari’s Ryan Selkis, Coin Center’s Neeraj Agrawal and VideoCoin’s Seth Shapiro have all reported facing such issues in recent weeks. Michael Terpin, a prominent investor in the crypto space, has filed lawsuits after being SIM swapped, taking on both his mobile provider AT&T and the alleged perpetrator. While his case against AT&T is ongoing, he won $75 million in a case against Manhattan resident Nicholas Truglia, 21. Similarly, Seattle-based Gregg Bennett is suing Bittrex, claiming the exchange failed to act in time to protect against a SIM swap targeting the angel investor. https://www.coindesk.com/us-authorities-arrest-alleged-sim-swappers-after-crypto-thefts
19-year old sim swapper buys luxury cars with stolen BTC
August 17th, a 19-year-old boy by the name of Xzavyer Narvaez was arrested and charged with several crimes consisting of grand theft, computer crimes, and identity fraud. Xzavyers’ case has caught the attention of the cryptocurrency community in particular. Xzavyer has been sim swapping, which may not sound like any way to acquire BTC or even hack but it is indeed. The technique used by these ‘hackers’ is simple, hackers call the service providers of their victims and convince them that have lost their sim and need the number to be swapped to another card. Once the hacker has confirmed their ‘identity,’ through answering basic personal questions which could be obtained from online, the numbers will then be swapped. Michael Terpin is the CEO of TransformGroup and co-founder of an angel group for BTC called BitAngels. Michael filed for a 224 Million USD lawsuit against his service provider, AT&T, to whom he believes gave hacking access to sim swappers. Michael has been the victim of two crypto heists, resulting in a loss of 24 Million USD, these heists were on June 11th, 2017 and January 7th, 2018. Once the hacker has a victims number, they will be able to change passwords of emails and crypto-exchanges by having the advantage of the users' number, eliminating the security of two-factor authentication. Hackers can then transfer victims crypto to their own wallets. Police obtained records from payment provider and exchange, BitPay and Bittrex. Police saw that between the dates of March 12th and July 12th, there was a flow of 157 BTC within the account of Xzavyer which is worth roughly 1 Million USD. Xzavyer used his stolen riches to buy sports cars, he recently purchased a 2018 McLaren, the car was purchased with some BTC and the trade-in of a 2012 Audi R8 which had been bought in June 2017 using Bitcoin. The police have identified at least three victims of Xzavyer, one reporting of a hack last year in which he had lost up to 150,000 USD. Although there has been sufficient evidence tying Xzavyer to the crimes, he was released without bail three days after being arrested, August 20th. Xzavyer may be out, but Ortiz is still in jail. The first sim swapper Xzavyer is not the first to be charged with the crimes of sim swapping, also known as ‘port out’ scams. The first man to be caught and charged under these allegations was Joel Ortiz. Joel was on his way to Europe when the police arrested him, he came clean quick; informing police on the 40 phone numbers he hijacked, his co-conspirators and the Millions of dollars in cryptocurrencies they controlled. Although he was not alone, he was the first to be caught. He confessed to victim targeting, particularly at the May Consensus bitcoin conference in New York where he allegedly stole 1.5 Million USD from a single entrepreneur. Ortiz was tracked down through a series of warrants, police identified two IMEI numbers linked to the stolen number, one belonging to Ortiz. The police were then able to track 40 stolen numbers connected to his IMEI number through the AT&T service provider. Xzavyer was tracked down as a sim swapper when police found his email logged into a phone used by Ortiz, leading them to further investigation and then Xzavyer. But Ortiz and Xzavyer are not alone, there is a whole community utilizing sim swapping as a way of taking from the hard workers and rewarding themselves with 2018 McLarens. Sources told Motherboard of the best sim swapper out there, by the name of Xzavyer. We can only hope that the truth surfaces and Xzavyer faces the trail he deserves, and in the long run, his community of hackers come to the same.
Released List of Satoshi Roundtable Attendees Gathering this Weekend
Satoshi Roundtable II This weekend a group of blockchain and bitcoin industry leaders gather again for the Satoshi Roundtable (satoshiroundtable.org) retreat. Participants in the second Satoshi Roundtable include developers, CEOs, investors, adopters and influencers from the blockchain and bitcoin world. The retreat is limited to approximately 75 attendees and designed to encourage organic, participant-driven discussion free of the distractions of a conference. Sessions include several topics of overall blockchain interest and a roundtable discussion on bitcoin capacity. Please provide any suggestions you have for areas of discussion/ focus. Partial list of confirmed participants: Gabriel Abed, CEO, Bitt Charles Allen, CEO, BTCS Gavin Andresen, MIT / Bitcoin Foundation Adam Back, President, Blockstream David Bailey, CEO, yBitcoins Mike Belshe, CEO, BitGo Patrick Byrne, CEO, Overstock / T0 Michael Cao, CEO, zoomhash Dave Carlson, CEO, Mega Big Power Daniel Castagnoli, CCO Exodus Sam Cole, CEO, KNC Miner Matt Corallo, Core Developer Luke Dashjr, Core Developer Anthony Di Iorio, CDO-Toronto Stock Exchange, Founder-Ethereum/Decentral/Kryptokit Joe Disorbo, CEO, Webgistix Jason Dorsett, Early Adopter Evan Duffield, FoundeLead Scientist, Dash Andrew “Flip” Filipowski, Partne Co-Founder, Tally Capital Thomas France, Founder, Ledger Jeff Garzik, Founder, Bloq Yifo Guo, Tech Develope Early Adopter David Johnston, Chairman, Factom Samy Kamkar, Super Hacker Alyse Killeen, Partner, Venture Capital Investor Jason King, Founder, Unsung Mike Komaransky, Cumberland Mining Peter Kroll, Founder, bitaddress.org Bobby Lee, CEO, BTC China, Vice-Chairman of the Board, Bitcoin Foundation Charlie Lee, Director of Engineering, Coinbase/Founder of Litecoin Eric Lombrozo, Founder, Ciphrex Corp / Developer Marshall Long, CTO, Final Hash Matt Luongo, CEO, Fold Jake Mazulewicz, Ph.D. JMA Associates (guest speaker) Human performance researcher Halsey Minor, CEO, Uphold / Founder of CNet Alex Morcos, Hudson Trading/ Core Developer Neha Narula, MIT, Director of DCI – Digital Currency Initiative Dawn Newton, Co-Founder, COO, Netki Justin Newton, Founder CEO, Netki Stephen Pair, Co-FoundeCEO, BitPay Inc. Michael Perklin, President, C4 – CryptoCurrency Certification Consortium / Board Member, Bitcoin Foundation Alex Petrov, CIO, BitFury Phil Potter, CFA, Bitfinex Francis Pouliot, Director, Bitcoin Embassy, Board Member, Bitcoin Foundation JP Richardson, Chief Technical Officer, Exodus Jamie Robinson, QuickBt Jez San, Angel Investor Marco Santori, Partner, Pillsbury Scott Scalf, EVP/Head of Tech Team, Alpha Point Craig Sellars, CTO, Tether Ryan Shea, Co-Founder, One Name Greg Simon, CEO & Co-Founder Ribbit! Me / President, Bitcoin Association Paul Snow, CEO Factom, Texas Bitcoin Conference Riccardo Spagni, Monero Nick Spanos, Founder, Bitcoin Center NYC Elizabeth Stark, Co-Founder & CEO, Lightning Marco Streng, CEO, Genesis Mining Nick Sullivan, CEO, ChangeTip Paul Sztorc, Truthcoin Michael Terpin, CEO, Transform Group Peter Todd, Core Developer Joseph Vaughn Perling, New Liberty Dollar Roger Ver, CEO, Memory Dealers / Bitcoin.com Aaron Voisine, CEO, Breadwallet Zooko Wilcox, CEO, Z Cash Shawn Wilkinson, Founder, Storj Micah Winkelspecht, CEO, Gem Also, representatives from Blockchain, Bain Capital Ventures, Mycelium, Fidelity Investments and others.
by Michael Terpin, Recently, the bitcoin halving took place. Specifically, the new supply of daily bitcoin entering the market was cut in half for the third time in history at about 7:30 pm UTC. In a prescient act of historical proportion, the final block of the third era of bitcoin had the following message added to it by miner f2pool: NYTimes 09/Apr/2020 With $2.3T Injection, Fed’s Plan ... They say that crime doesn’t pay, but it sure can cost you a lot. That is the case for a New York man as a court awarded Michael Terpin $75.8 million as part of a civil judgment from a scheme to defraud him of his cryptocurrency assets.. According to a ruling in California Superior Court, Nicholas Truglia was ordered to pay Terpin the amount as part of both compensatory and punitive damages ... The plaintiff, Michael Terpin, accused Ellis Pinsky, of Irvington, NY, and his alleged co-conspirators of stealing $23.8 million of cryptocurrency in January 2018, when the defendant was 15, and ... Michael Terpin is a serial entrepreneur in marketing and cryptocurrency. His bitcoin endeavors include BitAngels, Bitcoin Syndicate and CoinAgenda. In this article, he looks back on his journey in ... Exclusive Interview: Bitcoin and Cryptocurrency Leader Michael Terpin Sees Light in The Covid-19 Tunnel "I'd think the government would like to see its own citizens who are sitting on zero-interest cash be free to spend it in what they feel are high-risk/high-reward investments."
Michael Terpin CoFounder BitAngels #simswapprotection
At the last Disrupt Week event we get the chance to interview Michael Terpin from Coin Agenda about tech and startups and how he lost over $24 Million in Cryptocurrency due to a sim swap. Michael Terpin CEO Transform Group International Nos explica más a fondo sobre el mundo del BitCoin y Blockchain como funciona la opinión del Gobierno de Puerto Rico y si es una estafa. Michael Terpin CoFounder BitAngels, the world’s first angel network for digital currency startups, in May, 2013, and now serves as its chairman. The distributed angel network currently has more ... In this talk, Michael dives into the concept of Bitcoin and how the entertainment industry can benefit from the use of this futuristic form of banking. Michael Terpin is the founder and CEO of Terpin Communications Group, a leading public relations and strategic communications firm, specializing in high-technology and digital convergence. D10e San Fransisco Investors Panel. Conference highlights: HIGHLIGHTS 300 of the most passionate leaders spearheading decentralizing technologies and ideas attended. 50 international top level ...