Canadian teenager convicted in a Bitcoin robbery of $ 37 million and 2020 x hacking spree

A Canadian teenager has been convicted of a Bitcoin (BTC) robbery of $ 37 million and hacking different X accounts.

This follows on the call of the Chain-Speurz-Zachxbt for stricter penalties against SIMWITEL and Social Engineering fraudsters.

The punishment of the suspect

Zachxbt Unveiled via a July 29 X after That Cameron Redman was convicted and ordered to pay compensation after his involvement in a Bitcoin theft of $ 37 million and a related X -hacking case that the researcher had discovered.

Court documents show That Redman was sentenced to 12 months and 1 day, followed by a three-year-old guided release term for each count, where all sentences must be operated at the same time. He has also been instructed to pay a special assessment of $ 400, $ 248,257.07 in refund and a fine of $ 60,000.

On February 22, 2020, the Canadian teenager used a SIM swap attack to take control of the mobile number of crypto-investor Josh Jones, allowing him to bypass two-factor authentication and gain access to his portfolios. He then stole 1,547 BTC and 60,000 Bitcoin Cash (BCH), at that time with a value of around $ 37 million.

After the theft, Redman started laundering the stolen assets through hundreds of small transactions. These tokens were eventually led by centralized fairs in an attempt to hide the path.

The perpetrator was later linked to phishing -scam and hacking various NFT profiles on X. According to Zachxbt, in June 2022, Redman offered access to an internal X panel for sale on the PlatformSwapd. This was then sold for 250 ETH and led to the compromise of more than 10 bills and the theft of millions by phishing -wang.

The detective added that the Canadian youth initially used fake identity documents on Swapd before he submitted his real information, withdrew the sales proceeds via Tornado -Contant money and then deposited the funds on a strike account.

Data on the chain linked the wallet that he used to the compromised X accounts. The investigation identified victims, including Pieeple, Deekay, Zeneca, nouns Dao and Jrny Club.

Calls for more difficult rules

The suspect was formally sued on November 17, 2021 by the Hamilton police in Ontario. Authorities have reclaimed $ 5.4 million in crypto, but the remaining $ 31.5 million is still missing.

At the time of his arrest, Redman was still legally minor, which meant that his name remained sealed and his photo was not released. Zachxbt has previously marked How this kind of confidentiality is part of the problem and says that the identity of the convicted criminal should have been revealed earlier to prevent further illegal behavior.

Such cases are increasing, with the research by Keepnet Labs that demonstrates an increase of 1,055% of SIM -swap incidents in the UK in 2024. The State of Crypto -Windle of Elliptic 2025 also elliptic marked Phishing as an important method used by cyber criminals such as Lazarus in North Korea, where attackers are increasingly automating campaigns using AI tools.

In the meantime, Zachxbt reported that between November and December last year a single hacker crossed more than 15 x accounts and stealed more than $ 500,000.