According to PANews, U.S. District Judge Alvin Hellerstein has extended Nicholas Truglia's prison sentence to 12 years due to his failure to comply with a restitution agreement of $20.4 million to the victim. Truglia had pleaded guilty in 2021 to his involvement in a fraud scheme targeting Michael Terpin, CEO of blockchain consulting firm Transform Group. The scam involved deceiving telecom employees into transferring Terpin's phone number to a hacker-controlled SIM card, granting access to his cryptocurrency accounts. Truglia was responsible for converting the stolen funds into Bitcoin.

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