Cryptocurrency Scammer Ordered to Pay $1.2 Million for NFT Theft

A Los Angeles cryptocurrency fraudster has been sentenced to eight years in federal prison and ordered to pay $1.2 million in restitution to his victims. Amir Hossein Golshan, 25, was penalized for organizing a series of frauds in which he posed as an Apple support representative to steal non-fungible tokens (NFTs) and cryptocurrencies.

United States District Judge Otis D. Wright II was responsible for Golshan’s conviction. During the trial, the sophisticated methods used by the criminal stood out, which involved changing the subscriber identity module (SIM) and taking over social media accounts. These actions targeted hundreds of victims over several years, causing approximately $740,000 in financial losses.

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The US Department of Justice (DOJ) reported that Golshan initially tricked his victims into disclosing personal information such as SIM card details and two-factor authentication codes. In this way, this information allowed Golshan to gain unauthorized access to victims’ digital accounts and steal valuable assets, including NFTs and cryptocurrencies.

In addition to the monetary theft, prosecutors highlighted the wanton cruelty of Golshan’s actions, which inflicted constant fear and worry on the victims. This behavior has the description and demonstration of a “complete lack of respect” for the law and human dignity.

How did the coup occur?

Among the methods employed by Golshan, the approach to stealing cryptos: he posed as Apple support personnel. However, he used this facade to access victims’ Apple iCloud accounts. In one specific example, Golshan called a victim from the official Apple Support number, convincing him to divulge a two-step authentication code. With this, he was able to access the victim’s iCloud account and change the associated email address. With this, he was able to steal an NFT worth approximately US$319,000, in addition to around US$70,000 in crypto assets, ultimately.

Golshan’s situation highlights the need for caution and security in the world of cryptocurrencies, where technological innovation is also being exploited for illicit purposes. The global cryptocurrency market continues to grow, with a market capitalization of $1.47 trillion. Cases like Golshan’s remind investors above all of the importance of vigilance against fraud and digital scams.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.