TechFlow, July 12 — According to TechinAsia, a U.S. district judge, Alvin Hellerstein, increased Nicholas Truglia's prison sentence to 12 years due to his failure to fulfill an agreement to compensate the victim with $20.4 million. Truglia pleaded guilty in 2021 to participating in a fraud scheme against Michael Terpin, CEO of blockchain consulting firm Transform Group. The scheme involved deceiving telecom employees into transferring Terpin's phone number to SIM cards controlled by hackers, thereby gaining access to his cryptocurrency accounts. Truglia was responsible for converting the stolen funds into Bitcoin.
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