April 19, 2024
Latest Cryptocurrency News

Moroccan National Indicted by DOJ for Allegedly Stealing $450K in Crypto and NFTs

According to a statement released by the United State Attorney’s Office on Monday, a Moroccan individual has been indicted by US authorities for allegedly stealing cryptocurrencies and non-fungible tokens (NFTs) worth $450,000. The indictment, issued by the United States Attorney for the Southern District of New York, claims that Soufiane Oulahyane, a Moroccan citizen, utilized a deceptive website resembling the popular NFT marketplace OpenSea to gain unauthorized access to digital assets and NFTs through a cybercrime method called “spoofing.”

Oulahyane is facing several charges, including wire fraud, unauthorized use of an access device, and aggravated identity theft, all of which stem from activities occurring in September 2021. In a statement, US Attorney Damian Williams stated that Oulahyane had repurposed an existing tool to exploit the evolving crypto space.

The alleged perpetrator employed his counterfeit OpenSea platform to entice an NFT owner in Manhattan to register and disclose the seed phrase to his digital wallet. Subsequently, Oulahyane used this information to transfer cryptocurrency and a variety of NFTs into his possession, subsequently selling them. Among the pilfered NFTs was one from the “Bored Ape Yacht Club” (BAYC) series, estimated to be worth around $92,000 at the time of the incident.

Oulahyane is currently being held in custody in Morocco and could potentially face a maximum prison sentence of 47 years if convicted of the charges.

Image by Racool_studio on Freepik

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