A 23-year-old in Massachusetts pleaded guilty to hacking social media accounts to stealing account names and cryptocurrencies worth hundreds of thousands of dollars, according to the Department of Justice (DOJ).
Eric Meiggs admitted to targeting victims with large amounts of cryptocurrency and “high-value or ‘OG’ (slang for ‘original gangster’) social media accounts,” according to the DOJ. Meiggs and other co-conspirators used an illegal procedure called “SIM exchange” to hack social media accounts and steal cryptocurrencies and OG account names, the DOJ reported.
The SIM exchange involves the hacker asking a mobile operator to transfer the victim’s cell phone number from the SIM card (Subscriber Identity Module) on his phone to the SIM card on the hacker’s phone. The hacker can then request account password reset links while posing as a victim, according to the DOJ.
Meiggs and the other hackers stole or attempted to steal more than $ 530,000 in cryptocurrencies from at least 10 victims, the DOJ reported.
Meiggs pleaded guilty to seven counts of conspiracy, electronic and computer fraud and identity theft. He faces at least two years in prison along with any other sentence to be decided by a federal district court judge on September 15, the DOJ reported.