BitAngels founder files new lawsuit seeking $81 million in damages

20 Jan, 2019
by Richard Allen
BitAngels founder files new lawsuit seeking $81 million in damages

BitAngels founder Michael Terpin has filed a new lawsuit seeking $81 million in damages from a New York man as well as several other people who allegedly stole $24 million from Terpin last year, Blokt reports.

Recap: US telecoms giant being sued for $224m due to Sim swap hack

Terpin filed a civil suit and Racketeer Influenced and Corrupt Organizations claim in December. He claims that Nicholas Truglia and 25 other unnamed people were involved in the hack. Truglia is accused of being the brains behind the ‘OG Users’ gang that was allegedly responsible for the SIM swap hacks last year.

Truglia was arrested last November on 21 counts of theft, including altering or corrupting computer data with an intent to defraud, using personal information without authorization, and grand theft.

During the alleged hack, the criminals gained access to Terpin’s mobile phone. Using his account to intercept calls and text messages, the hackers were able to gain access to Terpin’s cryptocurrency accounts by intercepting two-factor authentication messages.

Terpin’s latest lawsuit seeks $81 million in damages, citing RICO law violations. The law is commonly used to impose hefty penalties against organized crime groups.

Read more: User data from top crypto exchanges is for sale on the dark web...

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