U.S. crypto investor wins $75 million civil case

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U.S. cryptocurrency investor Michael Terpin has won $75.8 million in a civil case against the man who defrauded him of his cryptocurrencies last year, Reuters writes. Twenty-one year old Nicholas Truglia has been ordered to pay Terpin compensatory and punitive damages for the theft. According to Reuters, it is “one of the largest court judgments awarded to an individual in the cryptocurrency space.”

Due to a SIM swap, Terpin lost three million tokens worth $23.8 million at the time of the theft. Truglia had accessed Terpin’s phone number, which allowed him and his associates to reset passwords and get access to Terpin’s funds.

Truglia’s case is ongoing; he was arrested for six other crimes in November.

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