Another Crypto Thief Brought Down, Charged With Fraud

Nicholas Truglia (a crypto thief) has been detained once more on fraud and firearms allegations . The 25-year-old felon may be sent back to jail after being released in January 2023. Bloomberg reports that Truglia was taken into custody by the police on September 9 . He was raised in Ocoee, Florida by his father . The specifics of the arrest are unclear but it is related to allegations of fraud and firearm possession .

Truglia Stole Over $20 In The Past

Thefts and frauds using cryptocurrencies were a common topic of news coverage in 2023 . However, in 2018 Truglia surprised the business world by stealing $23 million from Michael Terpin . There were fewer instances of crypto-related crime back then . In another incident he used a SIM card exchange to steal $1 million from a Silicon Valley CEO named Robert Ross .

Truglia was 21 years old when he was arrested for the first time in 2018 . Twenty-one charges of theft were filed against him including identity theft and computer data theft .

He Had Over $50 Million in Various Assets When Caught

Truglia was discovered to have almost $53 million in art, jewelry and cryptocurrency at sentence .

Finally, in April, a US District Court sentenced Gary Harmon (another crypto thief) to four years in jail . The IRS claims that he stole 713 bitcoins from cold storage wallets .

Quick Reminder: What to Do to Prevent Crypto Theft?

To keep your cryptocurrency from being stolen you need to take important protection steps . Start by picking a bank that is trusted and safe ideally one that keeps your secret keys offline . Set up two-factor authentication (2FA) on all of your crypto accounts and watch out for hacking scams that try to trick you into giving away private information . 

Keep your wallet and software up-to-date with the latest security patches, and make sure each of your accounts has a strong, unique password . When using public Wi-Fibe careful and think about using whitelisting for withdrawals . Back up your wallet often and keep up with best practices for security to stay ahead of possible threats . By taking these steps you can make your crypto assets much safer and reduce the risk of them being stolen .

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