Joseph O’Connor, a British hacker operating under the pseudonym PlugwalkJoe, has been sentenced to five years in prison in the United States. His conviction stems from his involvement in a SIM swap attack targeting a high-profile cryptocurrency exchange executive in April 2019, which resulted in the theft of digital assets valued at approximately $794,000.
After being initially arrested in Spain in July 2021, PlugwalkJoe was extradited to the United States on April 26, 2023, to face justice. He stated his willingness to cooperate with the authorities, and pleaded guilty in May.
To further explain, SIM card hacking is a form of cyber attack where hackers fraudulently take control of the victim’s phone number by spoofing the carrier. By doing so, they can bypass two-factor authentication and access the victim’s sensitive information, such as financial accounts.
PlugwalkJoe: Criminal Provisions and Activities
The US Attorney’s Office for the Southern District of New York confirmed the severity of the prison sentence in an official statement released on June 23.
Apart from imprisonment, Belgowock Jo was also subjected to three years of supervised release as part of his sentence. in addition to, According to the statement providedHe was ordered to make a large forfeiture payment of $794,000.
Although the identity of the targeted cryptocurrency executive has not been revealed, O’Connor successfully executed a SIM swap on this person.
This illegal maneuver allowed O’Connor to gain unauthorized access to various accounts and computer systems associated with the cryptocurrency exchange where the CEO was working.
Statement text:
After illegally acquiring the stolen cryptocurrency, O’Connor and his associates engaged in a series of deceptive money laundering practices. Through various transfers and transactions, they deliberately concealed the origins of illegally obtained digital assets. Moreover, part of the stolen cryptocurrency was converted into Bitcoin by utilizing cryptocurrency exchange services. This clandestine transfer allowed them to further obscure the trail of misappropriated funds.”
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According to the statement, a large portion of the stolen cryptocurrency was returned to a cryptocurrency exchange account under O’Connor’s control. This revelation reinforces his direct involvement in illegal activities.
In addition to his involvement in the cryptocurrency theft, O’Connor’s ruling includes his involvement in the cryptocurrency heist Twitter hacked in July 2020. During this incident, O’Connor and his team collected nearly $120,000 in illicit cryptocurrency winnings.
The statement highlights how Belgowock Go and its co-conspirators leveraged their control over the hacked Twitter accounts. They have engaged in various fraudulent activities, including schemes to defraud others and selling access to hacked accounts to interested parties.
O’Connor’s involvement in the scheme extended beyond digital manipulation. He attempted to blackmail a victim on Snapchat by threatening to expose private messages unless they made posts promoting PlugwalkJoe online.
Furthermore, O’Connor resorted to stalking and threatening another person, orchestrating smash attacks by falsely reporting emergencies to authorities and targeting the victim.
Featured image from Twitter, chart from TradingView.com
