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.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.