In Friday’s installment of The Daily, we update a story we first reported on yesterday – the closure of stablecoin project Basis. Its team have now given the official reason for its cessation. We’ll begin, though, by covering a slice of crypto crime concerning “bitcoin bandit” Nicholas Truglia.
Also read: Digital Currency Platform Revolut Receives European Banking License
On Dec. 13, so-called “bitcoin bandit” Nicholas Truglia was extradited to California to face charges of hacking into the phones of major Silicon Valley players. Truglia is accused of stealing a cool $1 million in crypto from one victim through SIM swapping, also known as SIM jacking. The trick has become one of the most successful attack vectors for hackers seeking to part victims from their cellphones and from there to infiltrate their email accounts and override 2FA. Other high profile figures Truglia is accused of targeting in this manner include Saswata Basu, CEO of 0Chain, and Gabrielle Katsnelson, co-founder of SMBX. Truglia, for his part, maintains his innocence.
While we’re taking a foray into crypto crime, a recurring story about someone making bomb threats and demanding bitcoin resurfaced this week. The story itself is neither interesting nor meaningful – anyone can email an anonymous threat and demand whatever they want to cease their mischief, but it doesn’t mean they’re getting it. One publication, however, took the threats very seriously: Business Insider Australia has claimed that the price of BTC slumped as a direct result of the threats. “Wow you are terrible at reporting,” tweeted one reader in response to the asinine assertion.
What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.
Images courtesy of Shutterstock and NY Post.
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