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| August 19, 2018

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Tesla Board’s Independence Faces Tough Test

August 10, 2018 |

Elon Musk’s surprising buyout idea for Tesla puts the spotlight on its board members, most of whom have close business or personal relationships with the electric-car company’s leader.
WSJ.com: US Business

Scandinavia faces high winds; storms hit France, Germany

August 10, 2018 |

Authorities in Scandinavia warned of high winds on Friday amid storms that followed a long spell of hot, dry weather, while Germany’s national railway worked to reopen routes closed the previous night due to storms.
FOX News

Incoming Colombia president faces long list of challenges

August 7, 2018 |

The young protégé of a powerful former president is being sworn in as Colombia’s new leader Tuesday, tasked with guiding the implementation of a peace accord with leftist rebels that remains on shaky ground.
FOX News

Trump faces new accusations of racism after mocking LeBron James’ intelligence

August 4, 2018 |

President Trump faced renewed accusations of racism Saturday after mocking the intelligence of Lakers superstar LeBron James and broadcaster Don Lemon of CNN.

Trump took to Twitter late Friday night to bash Lemon after his interview on Monday with James, and ended up slandering the celebrity athlete…


L.A. Times – Business

Student Faces Charges for Stealing $5 Million in Crypto via “SIM Jacking”

August 1, 2018 |

Student Faces Charges for Stealing $  5 Million in Crypto via "SIM Jacking"

Motherboard has reportedly obtained court documents pertaining to the arrest of Joel Ortiz, a 20-year-old from Boston, who is accused of stealing $ 5 million USD in bitcoin and other cryptocurrencies. Mr. Ortiz and his currently unidentified accomplices stole crypto from roughly 40 victims through a hacking technique known as “SIM jacking.”

Also Read: Archaeologists Argue Micronesian Stone Money Comprises Bitcoin Predecessor

20-Year-Old Arrested For Part in Theft of $ 5 Million in Crypto

Student Faces Charges for Stealing $  5 Million in Crypto via "SIM Jacking"It has been reported that on the 12th of July, Californian police arrested a college student accused of being part of a group of criminals responsible for the theft of more than $ 5 million in cryptocurrencies.

Mr. Ortiz was reportedly arrested at Los Angeles International Airport whilst on his way to Europe donning a Gucci bag presumed to have been paid for with stolen money. The 20-year-old now faces 28 charges, including 13 counts of hacking, 13 counts of identity theft, and 2 counts of grand theft.

Ortiz is currently in jail awaiting his plea hearing on August 9th. His bail was set at $ 1 million.

First Reported Instance of Crypto Stolen Through ‘SIM Jacking’

Student Faces Charges for Stealing $  5 Million in Crypto via "SIM Jacking"Motherboard has claimed that the case comprises the first reported instance in which the increasingly prevalent technique of “SIM jacking” has been used to steal virtual currency.

According to the publication, “SIM swapping consists of tricking a provider like AT&T or T-Mobile into transferring the target’s phone number to a SIM card controlled by the criminal. Once they get the phone number, fraudsters can leverage it to reset the victims’ passwords and break into their online accounts (cryptocurrency accounts are common targets.) In some cases, this works even if the accounts are protected by two-factor authentication.”

Hackers Target Consensus Conference in May

20-Y/O Faces 28 Charges for Stealing $  5 Million via "SIM Jacking"Several of Mr. Ortiz and his yet-to-be-identified accomplices’ victims included attendees of the Consensus conference in New York City in May. One conference attendee who wishes to remain anonymous lost more than $ 1.5 million from one individual – nearly $ 1 million of which had been raised through initial coin offering.

“I looked at my phone and it was dead,” the individual told Motherboard. “We were having a meeting and all of a sudden he says ‘Fuck my phone just stopped working.’” The individual added that his friend later texted him: “My fucking SIM got hacked.”

Motherboard reported that “According to court documents, Ortiz took control of the entrepreneur’s cell phone number, reset his Gmail password and then gained access to his cryptocurrency accounts. The entrepreneur ran to the AT&T store to get his number back, but it was too late.”

What is your response to the arrest of Joel Ortiz? Share your thoughts in the comments section below!


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The post Student Faces Charges for Stealing $ 5 Million in Crypto via “SIM Jacking” appeared first on Bitcoin News.

Bitcoin News

In Trump era, Disney-Fox deal still faces regulatory hurdle: China

July 31, 2018 |

Now that 21st Century Fox Inc. shareholders have signed off on the $ 71.3-billion sale of its entertainment assets to Walt Disney Co., some investors are already fretting about the next hurdle: regulatory clearance from China.

The deal, though already given a green light last week by the U.S. Justice…


L.A. Times – Business

CNN

Cruise line faces backlash over shooting of polar bear

July 29, 2018 |

A German cruise line says one of its employees shot and killed a wild polar bear on Norway’s Svalbard archipelago after the animal attacked one of its employees.
CNN.com – RSS Channel – World

MoviePass service goes down after company faces cash crunch

July 28, 2018 |

MoviePass’ online ticketing service temporarily halted Thursday as the company faced mounting financial pressures.

MoviePass parent company Helios & Matheson Analytics Inc. borrowed $ 5 million from hedge fund Hudson Bay to get MoviePass back online Friday, according to a filing with the Securities…


L.A. Times – Business

Woman Saved From Cliff Now Faces 96 Felonies

July 26, 2018 |

Last summer, Heather Mae Mounce was reported missing by her family; her car was found abandoned along Highway 101 in Oregon. After her then-husband ultimately spotted her, four days later, “clinging to bushes” 180 feet down the side of a cliff, a Coast Guard helicopter crew airlifted her from the…
Newser