Nicholas Truglia, a convicted cryptocurrency fraudster involved in a $22 million bitcoin theft, has had his prison sentence increased from 18 months to 12 years. The Manhattan federal judge imposed the extended sentence after Truglia failed to repay $20 million in restitution to the entrepreneur he defrauded. This resentencing reflects the court's response to his refusal to compensate the victim despite admitting to the theft. Separately, a 19-year-old named Matthew Lane was identified for hacking two major companies and demanding millions in Bitcoin, which he spent on luxury goods. Additionally, a former Massachusetts firefighter was sentenced to prison for stealing the identity of a deceased 13-year-old, though details on that case remain limited.
19-year-old Matthew Lane hacked two major companies and demanded millions in Bitcoin. His mistake? Using the ransom money for a shopping spree on luxury sneakers and designer clothes. https://t.co/0vhW42gpF5
Man behind $22 million crypto theft gets 12 years prison, up from 18 months https://t.co/wnUvOna5AX
Judge jacks up sentence for New York City crypto scammer to 12 years https://t.co/NXvL6LP4Kj https://t.co/OgjrY3OQMJ