Crypto Currency

The sad story of a lonely alleged SIM swapper who stole millions

You probably shouldn’t feel sorry for Nicholas Truglia. It’s just that his story is so pathetic. The 21-year old Manhattan resident was arrested last November and extradited to California in December. There, he’d face 21 felony counts relating to accusations of SIM swapping his way to a million dollars worth of stolen cryptocurrency. While Truglia’s…


You probably shouldn’t feel sorry for Nicholas Truglia. It’s just that his story is so pathetic.

The 21-year old Manhattan resident was arrested last November and extradited to California in December. There, he’d face 21 felony counts relating to accusations of SIM swapping his way to a million dollars worth of stolen cryptocurrency. While Truglia’s fate remains unclear, details of his life leading up to the arrest have begun to emerge thanks to a lawsuit filled by a separate alleged victim, and oh man is it a wild ride. 

As Krebs on Security reports, a lawsuit filed by Michael Terpin — a cryptocurrency investor and self-described “thought leader” — against Truglia claims he lost over $23 million after Truglia SIM swapped him and drained his crypto accounts in January of 2018. That document, and a supporting affidavit by one of Truglia’s former friends, tells the story of a cash-flush young man who saw himself as untouchable. 

And, perhaps unsurprisingly, they also paint Truglia as kind of an asshole. 

The now-deleted Twitter profile pic of @erupts, the account allegedly once belonging to Truglia.

The now-deleted Twitter profile pic of @erupts, the account allegedly once belonging to Truglia.

Image: twitter / waybackmachine

“Nick likened himself to Robin Hood who robs from the rich but did not give to the poor,” explained Chris David, former associate of Truglia’s, in the aforementioned affidavit. 

Instead, the documents paint a picture of someone who delighted in giving to himself — in the form of a Rolex, a $6,000-a-month apartment, and a $100,000 stack of cash he kept on his credenza. But that clearly wasn’t enough for him.

According to David, Truglia operated the now-suspended Twitter account @erupts, where he lamented that his wealth didn’t bring him friends, and even bra

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Crypto Currency

Bitcoin drives back toward $80K—but one billionaire may be fueling much of the rally

Bitcoin’s price has climbed roughly 15% over the past month, and crossed above $79,000 over the weekend. The oldest cryptocurrency is now sitting at around $77,000, which is the highest the token has traded since an early February selloff, but it’s unclear how durable this latest rally will prove to be. Recommended Video Markets more

Bitcoin’s price has climbed roughly 15% over the past month, and crossed above $79,000 over the weekend. The oldest cryptocurrency is now sitting at around $77,000, which is the highest the token has traded since an early February selloff, but it’s unclear how durable this latest rally will prove to be.

Markets more broadly have enjoyed a bullish April, with the S&P 500 enjoying a nearly 9% gain, but Bitcoin investors may have gotten an extra boost thanks to billionaire Michael Saylor. His firm, Strategy, has a business based around acquiring Bitcoin, with Saylor using his outsize social media presence to post memes exhorting others to do the same.  

Strategy acquired over 100,000 Bitcoin in March and April, worth over $7.7 billion at current prices. During the buying spree, the company surpassed BlackRock’s popular Bitcoin ETF in total Bitcoin holdings.

But Strategy’s pace of Bitcoin acquisition slowed last week, when the firm acquired 3,273 Bitcoin for $255 million. That may be owing largely to a slowdown in sales of Strategy’s perpetual preferred shares, which the company calls STRC. The product, which was launched by Saylor’s firm in July 2025, pays an 11.5% dividend, and Strategy buys Bitcoin with the proceeds from selling STRC. The instrument is meant to trade at $

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Crypto Funds Pull in $1.2B as Bitcoin Rally Revives Institutional Demand

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