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Teen Crypto Hacker Forced to Forfeit $3.1 Million in Bitcoin and Luxury Sports Car to Authorities

A teenage crypto hacker in the United States has been compelled to surrender approximately $3.1 million worth of Bitcoin and a sports car, according to reports. The teenager, Ahmad Wagaafe Hared, allegedly worked with two accomplices to hijack the phone numbers of crypto executives and investors, subsequently draining their crypto wallets.

Hared, residing in Arizona, targeted victims in Northern California, leading to his case being heard in San Francisco’s federal court. His modus operandi involved acquiring the personal contact information of crypto executives and investors and then deceiving cell phone providers into believing he was the legitimate owner of the phone numbers. This allowed his team to perform SIM swapping, transferring the targeted phone numbers to their own devices.

Once control of the phone numbers was established, Hared and his associates proceeded to breach email and other private accounts, ultimately aiming to infiltrate the victims’ crypto wallets and make off with the funds. A federal judge recently issued an order to seize 119.8 Bitcoin from Hared, valued at approximately $3.09 million.

This incident is part of a growing trend of crypto hacks that have led to significant financial losses for victims. In a separate report, it was revealed that hackers have been increasingly targeting macOS devices to steal cryptocurrencies using malware called Realst. Victims are prompted to install a web3 game, unknowingly exposing their devices to malicious software. This approach has resulted in the theft of valuable information, including passwords and private keys for crypto wallets.

The rise in such crypto-related hacks underscores the need for enhanced cybersecurity measures and increased vigilance among crypto users to protect their digital assets from malicious actors.