Authorities in the U.S. state of California have arrested a 21-year old New Yorker for the alleged theft of $1 million in crypto using “SIM-swapping,” U.S. broadsheet the New York Post reported Nov. 20. SIM-swapping — also known as a “port-out scam” — involves the theft of a cell phone number in order to hijack online financial and social media accounts, enabled by the fact that many firms use automated messages or phone calls to handle customer authentication. The arrested suspect, Nicholas Truglia, is accused of having targeted wealthy Silicon Valley executives in the Bay Area, and of successfully persuading ... (full story)