Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million

Crypto investor Michael Terpin has written an open letter to Federal Communication Commission (FCC) chairman Ajit Pai requesting urgent action on SIM swapping fraud. Terpin, a victim of SIM swapping himself, asked the regulator to make mobile carriers hide customer passwords from employees and to provide a “no port” option, whereby customers would have to…

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Crypto Investor Awarded Over $75 Million in SIM-Swapping Hack Case

U.S.-based cryptocurrency investor and entrepreneur Michael Terpin has won over $75 million in a lawsuit related to a SIM-swapping fraud. Terpin filed the case against 21-year-old Nicholas Truglia earlier this year, saying the Manhattan resident had defrauded him of cryptocurrencies after gaining control of his cellphone number. California Superior Court has now ordered Truglia to…

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