RICO Claim, Civil Lawsuit Filed In Michael Terpin Sim-Swap Token Theft Case

Bitcoin, Blockchain and the Law, Crime, News | January 16, 2019 By:

Entrepreneur Michael Terpin has named the person his legal team believes perpetrated a SIM swapping theft of tokens from him and has filed a civil suit against him.

Terpin already has a $224 million lawsuit against AT&T, initially filed last summer, alleging the company’s gross negligence in allowing for the theft. The latest legal move is a civil suit and RICO claim naming Nicholas Truglia, 21, a New York City resident.

The suit also makes allegations against Truglia’s unnamed confederates in the infamous “OG Users” gang, which has allegedly been responsible for many other SIM swaps and cryptocurrency thefts this past year.

Terpin’s team claims this is the first time the RICO Act has been used against alleged cryptocurrency thieves. After filing the suit, Terpin was immediately granted a writ of attachment against up to $24 million of Truglia’s assets. Truglia is currently incarcerated in connection with other alleged SIM thefts.

The suit arises from the January 7, 2018 theft of more than 3 million cryptocurrency tokens from Terpin by way of a digital identity theft by an AT&T agent of Terpin’s cellphone account.  The funds were then transferred.  

Terpin was allegedly promised unbreachable security by AT&T through a unique, purportedly unchangeable password following a smaller SIM swap theft in June 2017.

AT&T corporate communications spokesman Jim Greer responded: “We dispute these allegations and look forward to presenting our case in court.”