A high-profile cryptocurrency theft case and a series of lawsuits associated with it have brought SIM swap hacks to the limelight once again.
Nicolas Truglia, the primary suspect of a $24 million-dollar cryptocurrency theft case where BitAngels founder Michael Terpin’s crypto holdings were robbed, was known to live in $6,000 per month rented apartment.
He was also known to brag about planning to buy a McLaren car, a Manhattan condominium, and a private jet.
Details Into the Life of Truglia
Michael Terpin has filed two lawsuits related to the theft.
The first suit sought $224 million in damages and included the name of cellular operator AT&T, which Terpin claims was negligent during the SIM swap attack that made him lose millions.
The second case, seeking $81 million in damages was filed last month against Truglia and 25 other unnamed people.
Private jet broker Chris David will be supporting Terpin’s case against Truglia.
The infamous crypto con artist reportedly lived in an apartment paying $6,000 per month in rent. He also wore a Rolex watch worth $100,000.
According to David, the conman frequently talked about buying a Manhattan condo, a private jet and a $250,000 McLaren sports car.
Chris David noted:
“I quoted [Truglia] a price of $38,000 for the private jet he wanted to hire. He said that he could pay that amount out of his cryptos, and he showed me his accounts on his computer and mobile phone, totaling tens of millions of dollars.”
How Much Did Truglia Really Own?
David says that Truglia showed him his crypto holdings. He mentions him having over $7 million of cash in his JP Morgan Chase mobile application.
The conman also showed David that he holds over $12 million worth of cryptocurrencies in his Gemini account.
“One had over $40 million cash value of various cryptos, and the other one had over $20 million […]. Ultimately, Nick did not lease the jet that I offered.”
David suggests that Truglia told him that the cryptocurrencies he earned were a result of crypto mining profits.
He later confessed that he had stolen cryptocurrencies from other people, going as far ahead as calling himself “Robin Hood.”
The documents submitted to court include screenshots of the man showing off his success on social media platforms.