US indicts Moroccan man for creating fake OpenSea platform in $450,000 crypto and NFT theft

TL;DR Breakdown

  • Moroccan national, Soufiane Oulahyane, indicted for orchestrating a $450,000 crypto and NFT heist by creating a deceptive replica of the OpenSea marketplace.
  • Oulahyane allegedly used a fraudulent website and paid advertisements to trick unsuspecting victims into providing their login credentials, enabling him to gain unauthorized access to their accounts.
  • The stolen digital assets included a highly sought-after Bored Ape NFT and resulted in charges of wire fraud, unauthorized access device usage, and aggravated identity theft against Oulahyane, who awaits potential extradition to the United States.

Description

Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment alleges that Oulahyane orchestrated a complex scheme by creating a deceptive replica of the renowned OpenSea digital marketplace, ultimately stealing digital … Read more

Soufiane Oulahyane, a Moroccan individual, has been indicted by the United States Attorney for the Southern District of New York on charges related to a significant cryptocurrency and non-fungible token (NFT) heist. The indictment alleges that Oulahyane orchestrated a complex scheme by creating a deceptive replica of the renowned OpenSea digital marketplace, ultimately stealing digital assets worth approximately $450,000.

Deceptive replica and unauthorized access

According to the indictment, Oulahyane is accused of meticulously designing a fraudulent website that closely resembles the legitimate OpenSea platform. Utilizing paid advertisements, he ensured that his counterfeit site appeared prominently in search results for the term “OpenSea.” Unsuspecting users, unaware of the deception, would enter their login credentials on the fake platform, unknowingly transmitting their sensitive information to Oulahyane’s controlled email account.

The indictment alleges that Oulahyane executed this scheme in September 2021, resulting in substantial theft. Specifically, the primary victim, an NFT owner based in Manhattan, unknowingly disclosed their seed phrase to the fraudulent website. The seed phrase is a crucial sequence of words that provides access to a cryptocurrency wallet. Exploiting this sensitive information, Oulahyane reportedly transferred the victim’s wallet contents, which included 39 NFTs. Among the stolen assets was a highly sought-after Bored Ape NFT, previously purchased by the victim for an estimated value of 49 ETH.

Stolen assets and criminal charges

After gaining control of the victim’s wallet, the indictment alleges that Oulahyane proceeded to sell two NFTs: a Meebit and a Bored Ape Kennel Club NFT. The victim had initially acquired these digital assets for approximately 9.88 ETH and 6 ETH, respectively. Oulahyane purportedly offloaded the stolen NFTs on the legitimate OpenSea marketplace, transferring the fraudulent proceeds to a wallet beyond the victim’s reach. In total, the stolen digital collectibles amounted to approximately $450,000 in value.

As a consequence of his alleged actions, Oulahyane now faces charges of wire fraud, unauthorized access device usage, and aggravated identity theft. These serious charges could result in a lengthy prison sentence if he is found guilty. It is worth noting that Oulahyane is currently in custody in Morocco, awaiting potential extradition to the United States to face trial.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:US indicts Moroccan man for creating fake OpenSea platform in $450,000 crypto and NFT theft

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月12日 15:05
Next 2023年7月12日 16:52

Related articles

  • NFT platform Recur stops operations despite $50 million funding

    TL;DR Breakdown Recur, an NFT-focused startup, is closing down despite having raised $50 million and partnered with major brands like Nickelodeon and Hello Kitty. The platform will phase out key features, including NFT retrievals, trades, and stablecoin cash-outs, due to unforeseen market challenges. Having once been valued at $333 million, Recur’s digital collectibles will migrate to the InterPlanetary File System (IPFS) to ensure their longevity. Description The popular NFT-centric startup, Recur, revealed its impending closure plans this Friday in an internal blog post. Despite securing a hefty $50 million in funding and partnerships with massive brands such as Nickelodeon and Hello Kitty, Recur seems to have been caught off-guard in the tumultuous whirlwind of the crypto domain. NFT Services Winding Down … Read more The popular NFT-centric startup, Recur, revealed its impending closure plans this Friday in an internal blog post. Despite securing a hefty $50 million in funding and partnerships with massive brands such as Nickelodeon and Hello Kitty, Recur seems to have been caught off-guard in the tumultuous whirlwind of the crypto domain. NFT Services Winding Down Recur’s…

    Article 2023年8月21日
  • SEC freezes Digital Licensing’s assets over fraudulent activities

    TL;DR Breakdown The United States SEC has frozen assets belonging to Digital Licensing over fraud allegations. Safeguarding investors amid the rapid growth in the digital economy. Description The United States Securities and Exchange Commission (SEC) has taken swift action against Utah-based crypto company Digital Licensing Inc., placing a temporary asset freeze as part of an enforcement effort targeting an allegedly fraudulent crypto scheme amounting to $50 million. On August 3rd, the SEC unveiled a series of measures, including a temporary asset freeze … Read more The United States Securities and Exchange Commission (SEC) has taken swift action against Utah-based crypto company Digital Licensing Inc., placing a temporary asset freeze as part of an enforcement effort targeting an allegedly fraudulent crypto scheme amounting to $50 million. On August 3rd, the SEC unveiled a series of measures, including a temporary asset freeze and a restraining order, against Digital Licensing Inc., which was operating under the name “DEBT Box.” The SEC enforcement named four executives of the firm The enforcement action named the company’s four principals: Jason Anderson, his brother Jacob Anderson, Schad…

    Article 2023年8月5日
  • A closer look at the Arnaults’ succession: Will LVMH be under pro-crypto leadership?

    TL;DR Breakdown A crypto and fashion shift is coming to LVMH, run by Bernard Arnault, as he considers which of his children will run the conglomerate that controls 75 top brands such as Louis Vuitton, TAG Heuer, and Dior. The succession decision could be pivotal in the crypto industry and would promote the future of blockchain technology and digital assets. Arnault’s sons Alexandre and Frederic have played a huge role in convincing the 74-year-old tycoon to adopt the emerging digital markets.  Description The second richest man on Earth, Bernard Arnault, the CEO of the LVMH conglomerate controlling 75 top brands such as Louis Vuitton, TAG Heuer, and Dior, is currently contemplating on which of his children will take over the $400 billion business empire. The 74-year-old CEO has recently raised the business retirement age to 80 years, … Read more The second richest man on Earth, Bernard Arnault, the CEO of the LVMH conglomerate controlling 75 top brands such as Louis Vuitton, TAG Heuer, and Dior, is currently contemplating on which of his children will take over the $400 billion…

    Article 2023年9月17日
  • Meta to launch AI model set to challenge OpenAI’s dominance

    TL;DR Breakdown Meta has already introduced its language model called LLaMa earlier this year, but the upcoming commercial version is expected to be more widely accessible. The Company’s high-level strategy, as revealed by a source familiar with the matter, is to challenge the dominance of OpenAI in the AI landscape. Author Sarah Silverman, along with two other authors, has filed a lawsuit against the Company, alleging copyright infringement in the training of its AI systems. Description According to a report by the Financial Times, Meta, formerly known as Facebook, is planning to launch a commercial version of its artificial intelligence (AI) model. The aim of this release is to expand the usage of Meta’s AI technology and allow companies to customize it to their specific needs. The company has already introduced … Read more According to a report by the Financial Times, Meta, formerly known as Facebook, is planning to launch a commercial version of its artificial intelligence (AI) model. The aim of this release is to expand the usage of Meta’s AI technology and allow companies to customize it…

    Article 2023年7月13日
  • Nasdaq Postpones Crypto Custody Business Amid Regulatory Uncertainty

    TL;DR Breakdown Nasdaq delays launch of crypto custodial business: Nasdaq has announced that it will pause its entry into the cryptocurrency custody market due to regulatory uncertainties and changing market conditions. Nasdaq shifts focus to crypto ETFs and index products: Despite the delay in the custodial business, Nasdaq remains committed to exploring other opportunities in the cryptocurrency industry. Description Nasdaq, the prominent US stock exchange, has announced that it is pausing its ambitious venture into the cryptocurrency custodial business due to shifting market conditions and regulatory uncertainties. CEO Adena Friedman made the announcement during a recent earnings call, highlighting the need to assess the evolving regulatory landscape before proceeding. Nasdaq had initially planned to … Read more Nasdaq, the prominent US stock exchange, has announced that it is pausing its ambitious venture into the cryptocurrency custodial business due to shifting market conditions and regulatory uncertainties. CEO Adena Friedman made the announcement during a recent earnings call, highlighting the need to assess the evolving regulatory landscape before proceeding. Nasdaq had initially planned to launch its crypto custodian services in the second…

    Article 2023年7月20日
TOP