Palm Coast Man Sentenced to 10 Years for $13M Crypto Fraud Scheme

Noah Michael Urban, a 20-year-old Florida resident, has been sentenced to a decade in federal prison for orchestrating a sophisticated cryptocurrency theft operation. The defendant, operating under aliases including 'King Bob,' executed SIM swap and phishing attacks to steal digital assets from 59 victims nationwide.

Court documents reveal Urban's involvement with the 'Scattered Spider' cybercrime syndicate, which targeted both individuals and corporations. The scheme's $13 million haul represents one of the largest SIM-swapping crypto thefts prosecuted to date. Authorities seized $4.8 million in cryptocurrency and physical assets as part of the forfeiture order.

The case highlights growing law enforcement focus on blockchain-related crimes. While the specific cryptocurrencies stolen weren't disclosed, such attacks typically target high-liquidity assets like BTC and ETH. Major exchanges continue bolstering security measures against SIM-swap vulnerabilities.