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Canadian Teen Arrested in Crypto Theft Worth $36.5 Million

  • Case marks the biggest crypto theft reported by one person
  • Police identified the alleged thief through a gaming username
BitMain Crypto Hardware Repair Inside 3Logic Service Center
Photographer: Andrey Rudakov/Bloomberg

A Canadian teenager was arrested for allegedly stealing C$46 million ($36.5 million) worth of cryptocurrency from a U.S. victim, the biggest crypto theft reported from one person, according to police in the city of Hamilton, near Toronto. 

Police said the victim was targeted through a cell phone scam known as SIM swapping, in which a scammer hijacks a wireless customer’s phone number to intercept two-factor authentication requests and gain access to the victim’s accounts.