The Department of Justice (DOJ) has charged five individuals with running a massive cryptocurrency phishing scam that reportedly cost victims millions.
The Scam
The alleged scammers, including Tyler Buchanan from the UK and four Americans, are facing charges including conspiracy to commit wire fraud and aggravated identity theft. The DOJ alleges the group used sophisticated SMS phishing techniques to steal login credentials from company employees. This gave them access to victims’ cryptocurrency wallets, resulting in significant financial losses.
The Accused
The indictment names the following individuals:
- Ahmed Hossam Eldin Elbadawy (23, Texas)
- Noah Michael Urban (20, Florida)
- Evans Onyeaka Osiebo (20, Texas)
- Joel Martin Evans (25, North Carolina)
Evans was recently arrested in North Carolina.
The Impact
US Attorney Martin Estrada stated that the alleged scheme involved stealing tens of millions of dollars worth of intellectual property and personal information from hundreds of thousands of individuals. He warned the public to be wary of suspicious emails, texts, and websites. The sophistication of these attacks highlights the increasing threat of cybercrime.
