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SBF likely off the hook for misplaced FTX funds after cops bust SIM swap ring

February 5, 2024

The recent indictment of a massive SIM-swapping ring may mean convicted crypto conman Sam Bankman-Fried is innocent of at least one allegation still hanging over his head: The theft of more than $400 million in crypto hacked from wallets belonging to his crypto firm, FTX, just before it declared bankruptcy.

As reported earlier this week, a trio of individuals, led by Chicago resident Robert Powell, were indicted [PDF] on charges of committing SIM swapping attacks on over 50 victims in 13 US states from 2021 until 2023, stealing hundreds of millions of dollars in the process.

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