Canadian Teen on Bail for $48 Million Theft Kept Stealing, Now in US Prison

In 2020, a 17-year-old committed one of the largest thefts in Canadian history after stealing tens of millions of dollars in cryptocurrencies through a SIM swap scam. Two years later, he was released on bail. 

He continued stealing crypto by taking over popular X accounts and directing followers to fraudulent websites, cashing in over a million Canadian dollars. Now an adult, the man is fulfilling a one-year sentence at a US prison.

Defrauding Hundreds While on Bail

A Canadian man is currently serving a one-year prison sentence in the US over a 2022 crypto theft spree. During this period, he defrauded as many as 200 people of more than CAD $1 million ($800,000).

From May to July 2022, the man orchestrated these thefts by taking over popular social media accounts on X. He then posted links to fraudulent websites to access victims’ crypto wallets. He carried out his latest thefts while on bail for a separate crime he committed as a teenager. 

A $48 Million Heist

In May 2020, the Hamilton man committed one of the largest cryptocurrency thefts in Canadian history, stealing CAD $48 million ($35 million) from one person in a single day. Since he was 17 years old at the time, his identity remains protected under Canadian law. 

He committed the theft using a SIM swap, tricking a customer service agent into redirecting texts to his own device. This mechanism allowed him to access the accounts of an American entrepreneur and transfer the cryptocurrency.

Following the discovery of the theft, the US Federal Bureau of Investigation and Hamilton police launched a joint investigation.

According to local reports, he purchased the highly sought-after PlayStation username “God” with stolen Bitcoin, a key clue linking him to the crime. An Ontario court later sentenced the teen to a year of probation and ordered him to pay back CAD $2.5 million ($1.8 million) in restitution.

A US court also ordered the man to pay $231,000 in restitution to the victims for his most recent crimes and imposed a fine of nearly $60,000. Upon his release from prison, he will be deported back to Canada.