SIM Swapper Receives 12-Year Sentence for $20M Crypto Theft

A New York federal judge has imposed a 12-year prison term on Nicholas Truglia, doubling federal sentencing guidelines after the convicted cybercriminal failed to repay $20 million in restitution. The resentencing follows Truglia's early release from an initial 18-month term in 2022, during which he continued moving funds and purchasing luxury goods despite court orders.

The case stems from a 2018 SIM-swapping attack that siphoned $23 million from crypto investor Michael Terpin. Prosecutors secured their harsher sentencing after presenting video evidence of Truglia boasting about hiding stolen cryptocurrency. The defendant's repeated violations of supervised release, including further fund movements while on probation, demonstrated what the court called "a pattern of deliberate obstruction."

This ruling establishes a precedent for enforcing restitution in high-value crypto theft cases. The sentence exceeds standard guidelines by over 100%, reflecting growing judicial intolerance for digital asset crimes that exploit technical vulnerabilities for personal enrichment.