• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Nicholas Truglia, Convicted Crypto Fraudster, Receives 12-Year Sentence

user avatar

by Giorgi Kostiuk

8 hours ago


Nicholas Truglia, a convicted scammer, has been sentenced to 12 years in prison for evading the repayment of over $20 million to his victim, Michael Terpin.

Overview of Nicholas Truglia's Case

Truglia was initially sentenced to 18 months in prison in 2022 for a SIM-swapping scheme. However, at a hearing on July 2, his sentence was extended after the court found he had evaded his restitution obligations. Judge Alvin Hellerstein noted that Truglia "demonstrated a willingness to repay his victim the entire amount stolen" but failed to follow through.

SIM-Swapping Scheme and Its Consequences

In 2018, Truglia and his associates used SIM-swapping to transfer Terpin’s phone number to another SIM card, allowing them to receive authentication codes and bypass security measures. This resulted in the theft of around $24 million in cryptocurrency. That same year, Terpin sued AT&T for negligence over the security of his phone number during the theft.

Judicial Consequences for Restitution Evasion

The recent ruling also includes three years of supervised release following Truglia’s prison term. This case highlights the court’s strict stance on defendants who fail to comply with restitution obligations, especially in high-value cryptocurrency crimes.

Truglia's extended prison sentence reflects the justice system's severity towards cryptocurrency fraudsters, sending a message that evading repayment to victims can lead to harsher penalties.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Bitcoin and Ethereum Amid ETF Growth: What's Next?

chest

Bitcoin continues to fluctuate, reaching $117,446, while Ethereum shows high ETF inflows amid rising cryptocurrency demand.

user avatarGiorgi Kostiuk

Bitcoin Surges Past $118,000, Liquidating $1.2 Billion in Short Positions

chest

Bitcoin rose 4.8% to $118,000, leading to $1.2 billion in liquidations across short positions in the crypto market.

user avatarGiorgi Kostiuk

Bitcoin Heading Towards $150,000: Predictions and Trends

chest

Crypto analyst Kevin Svenson outlines a potential Bitcoin surge to $150,000 based on a parabolic trend, highlighting market dynamics.

user avatarGiorgi Kostiuk

Cryptocurrencies and Stock Market: How Bitcoin Outperforms S&P 500 in 2025

chest

Analysis of the dynamics of S&P 500 and Bitcoin in 2025 shows a significant advantage of the cryptocurrency amidst the stock market growth.

user avatarGiorgi Kostiuk

Dogecoin Strengthens while Unilabs Finance Gains Investor Attention

chest

Dogecoin shows growth while Unilabs Finance becomes popular among investors due to its features.

user avatarGiorgi Kostiuk

Expert Peter Brandt Predicts XRP Price Will Rise

chest

Peter Brandt forecasts further rise in XRP price based on recent technical analysis and breakout of key resistance levels.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.