Alabama Man Charged Over SIM Swap Hacks That Stole $150K in Crypto

A man from Alabama who targeted Manhattan (N.Y.) residents to steal more than $150,000 in cryptocurrency via a SIM-swapping scheme faces a string of charges, the New York Daily News reported Thursday.

• Joseph Chase Oaks, 22, of Millbrook, Ala., face charges of grand larceny, identity theft and computer trespass, among other charges.
• Oaks allegedly operated a scam where he accessed 50 online accounts to steal the cryptocurrency between August 2018 and October 2019.
• By transferring the cell phone numbers of over 300 people to other phones in his possession, Oaks allegedly bypassed two-factor authentication measures to access the online accounts.
• Prosecutors said the accused worked alongside others in the U.S. and Canada to access over 60 smartphones and hundreds of SIM cards.
• Manhattan District Attorney Cy Vance said in a statement that it’s clear SIM-swapping “has only grown more common and prolific” since the first prosecution by New York authorities two years ago.

See also: 10 Arrested Over SIM-Swap Hacks That Stole $100M in Crypto From Celebrities: Europol