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Crypto Theft in New York – How a Moroccan Duped an American for $500,000

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ByMarcel Bich

Aug 17, 2023
Moroccan Scammer's $500,000 Crypto Theft in NY
Marcel Bich
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The US Attorney has accused a Moroccan of supposedly taking bitcoin and fournon-interchangeable tokens (NFT) worth $450,000 from a Manhattan resident in 2021. Currently detained in Morocco, Soufianz Oulaha is charged with fabricating a false OpenSea website and using spoofing to acquire the target’s key phrase.

In order to trick the victim into visiting the bogus OpenSea website, Oulaha, according to a press statement from the US Attorney’s Office for the Southern District of New York, employed a paid advertisement on a well-known search engine. 

Oulaha obtained the victim’s passphrase by email after they put it on the website, and she exploited it to gain access to their wallet. He then moved cryptocurrency and NFTs to his personal wallet.

One token from each of the Bored Ape Yacht Club, Meebit, Bored Ape Kennel Club, and Crypto Dad series was among the Oulahei NFTs that were taken. These digital assets cost the victim about $448,923 to purchase. The indictment does not specify which coins Oulahey took.

“It is alleged that Soufian Oulakhyan stole the victim’s bitcoin and NFT using a well-known cybercriminal technique. One of the earliest methods used by criminals is called “spoofing.” Attorney Damian Williams stated that Oulakhyan has modified this antiquated technique for use in the newly emerging and expanding crypto industry.

The Investigation

The Federal Bureau of Investigation (FBI) and the US Department of Justice (DoJ) are both looking into the case. Oulakhyan faces a potential sentence of 20 years in prison on one count of telecommunication fraud.

The charge is made in the midst of an increase in cyberattacks directed at cryptocurrencies and the NFT industry. The proprietor of Bored Ape Yacht Club was conned into three NFTs valued $570,000 in April 2022 on the Swap Kiwi exchange platform, which was utilized to produce phony BAYC NFTs using bogus check marks. But all these were Photoshop-modified Jpeg files.

Cybersecurity Flaws

BNB Chain experienced a security breach in October 2022 and lost millions of dollars’ worth of cryptocurrencies. During the freeze, restoration, and normalization procedures, a fresh spoofing attack cost the network 60 ETH in damages.

 
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Marcel Bich

Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.