Crypto Scammer Truglia Gets 12 Years for Restitution Failure

Nicholas Truglia, originally sentenced to 18 months for his involvement in a $22 million SIM-swapping cryptocurrency theft from Michael Terpin, has had his sentence increased to 12 years after failing to pay nearly $20.4 million in court-ordered restitution. Despite agreeing to repay the funds and claiming he surrendered all accessible assets, the court found that Truglia made no meaningful effort to compensate the victim and instead spent extravagantly on luxury items. U.S. District Judge Alvin Hellerstein condemned Truglia's willful evasion of restitution and ordered his immediate custody. Truglia's legal team contends the sentence is excessive and plans to appeal, arguing that much of his wealth remains inaccessible, including substantial bitcoin holdings. Truglia was found to have helped launder the stolen assets, which were obtained by exploiting telecom vulnerabilities to hijack Terpin's phone number and access his crypto accounts. The case underscores the judiciary's willingness to impose severe penalties for failure to pay restitution in high-profile crypto fraud cases.