Dive into the world of cryptocurrencies, where a resounding scandal is erupting. The US justice system is accusing a 25-year-old Moroccan of stealing a whopping $450,000 in digital assets, including two NFT Bored Ape, using a fake page mimicking the famous OpenSea marketplace.
US prosecutors revealed the case on Monday, highlighting charges against Soufiane Oulahyane, a Moroccan citizen, for orchestrating a theft of cryptocurrencies and non-fungible tokens using a technique known as phishing.
Oulahyane managed to get his hands on several NFTs!
Reportedly, Oulahyane stole $450,000 worth of digital assets from a New York-based investor in autumn 2021. To achieve his goal, he would have created a copy of the login page of the famous OpenSea marketplace, thus deceiving NFT holders and recovering the starting phrases of their digital wallets. To make his plan even more pernicious, he would also have paid for his page to appear at the top of search results, thus more easily attracting potential victims.
The Justice Department states that Oulahyane managed to get his hands on several high-value NFTs, including those from prized collections such as Bored Ape Yacht Club, Bored Ape Kennel Club and even Meebit.
This case highlights a well-known cybercrime technique used by Oulahyane to steal cryptocurrencies and NFTs from his victims. Identity theft is a classic trick in the crook’s book, but Oulahyane has adapted it to a new and growing field: the world of cryptocurrencies,” said Damian Williams, U.S. Attorney for the Southern District of New York.
Currently detained in Morocco on other charges, the alleged hacker faces up to 20 years in prison if extradited to the USA. A case that highlights the risks and challenges of security in the increasingly complex world of cryptocurrencies.