Investor Awarded $75 Million in Civil Lawsuit Against 21-Year-Old Who Stole His Crypto

Francisco Memoria

Michael Terpin, a U.S. entrepreneur and cryptocurrency investor who’s seen SIM swappers steal millions worth of cryptocurrency from him, has recently been awarded $75.8 million in a civil judgment against a man who was reportedly part of a scheme to defraud him.

According to Reuters, the California Superior Court last week ordered Nicholas Truglia, a 21-year-old New York resident, to pay the amount in compensatory and punitive damages, making this one of the largest judgements awarded to an individual in a cryptocurrency-related case.

Speaking to the news outlet, Terpin noted he filed the civil complaint back in January, after seeing three million tokens get stolen from his cryptocurrency wallet over a SIM swapping attack in early 2018.

At the time, the tokens were reportedly worth around $23.8 million. This, according to a complaint Terpin filed with the U.S. District Court in Los Angeles back in August, in which he sued AT&T, his service provider, for “gross negligence” that caused him to lose the funds.

Truglia and other hackers reportedly fraudulently transferred Terpin’s phone number to a phone they controlled, to then reset the passwords of his online accounts and ultimately steal his cryptocurrency.

Truglia himself was arrested in November of last year, in connection with six other crimes that saw him be accused of stealing $1 million worth of cryptocurrency through SIM swapping techniques.

GitHub Burying Bitcoin Code Beneath Mountain in Norway’s Svalbard

Michael LaVere
  • GitHub is creating a Vault Program to preserve open-source code, including that of Bitcoin Core. 
  • The data will be stored on reams of film and stored in a decommissioned mine in Norway's Svalbard archipelago. 

GitHub is burying a database of open-source code, including that of Bitcoin Core, 250 meters below the permafrost of a mountain in Norway’s Svalbard archipelago. 

GitHub announced the project as a plan to preserve open-source software for future generations. According to their 2020 Artic Vault program, the developer community is creating a “snapshot” of active repositories on GitHub in order to safeguard an important part of technological history. The code will be copied onto film reels and placed in steel containers designed to last at least 1,000 years. 

The project’s official page reads, 

As today’s vital code becomes yesterday’s historical curiosity, it may be abandoned, forgotten, or lost. Worse, albeit much less likely, in the case of global catastrophe, we could lose everything stored on modern media in a few generations.

GitHub says the artic code vault will be located in a decommissioned coal mine in the Svalbard archipelago, which is closer to the North Pole than the Arctic Circle. 

The Vault program also intends to create multiple copies of the open-source data on an ongoing basis that will include various data formats and locations. 

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