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MARKETS LIVE BLOG:

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Alleged hacker indicted for stealing $1.75M in cryptocurrencies

Yogita Khatri
AT&T Mobility will need to answer to a lawsuit filed by a cryptocurrency investor who lost millions in a SIM-swapping hack.The post Judge rejects motion to dismiss AT&T lawsuit concerning $24M SIM-swapping hack appeared first on The Block.

A 31-year-old man has been formally charged in a Tel Aviv District Court indictment over suspected stealing of 6.1 million Israeli new shekels (~ $1.75 million) in cryptocurrencies.

Globes reported the news on Thursday, stating that the man, Eliyahu Gigi, stole bitcoin (BTC), ether (ETH) and dash (DASH) cryptocurrencies from foreign citizens, including Belgians, Dutch and Germans.

Gigi allegedly ran a criminal enterprise and distributed software to the public through websites that penetrated victims’ computers to steal cryptocurrencies, according to the indictment.

He reportedly transferred the stolen cryptocurrencies between various wallets, split them and then converted into different types of cryptocurrencies.

Gigi is charged for offenses under theft, fraud, money laundering, among others, as well as for offenses under the Income Tax Ordinance, according to the report.