Major Cryptocurrency Thefts: SIM Swapping Schemes Result in Over $400M Stolen

Two separate cases highlight the growing problem of SIM swapping, with one individual sentenced to six years and another facing charges for leading a group that allegedly stole $400 million.

• 22-year-old Portland man, Daniel James Junk, sentenced to six years in prison for stealing over $3 million in cryptocurrency through a SIM card swapping scheme.
• Junk targeted individuals, impersonating them and stealing their digital lives and finances, causing immense suffering to his victims.
• Despite being kidnapped and spending time in custody, Junk continued his criminal activities, with investigators finding a thumb drive with information on additional victims and compromised email addresses.
• Robert Powell, a Chicago man, along with co-conspirators, charged with stealing $400 million in cryptocurrency through a SIM swapping scheme, targeting over 50 victims in more than a dozen states.
• Powell's crew allegedly used identification card printers to forge documents, posing as victims visiting Apple, AT&T, Verizon, and T-Mobile retail stores across multiple states.

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