Cryptocurrency fraudster jailed after spending stolen funds on luxury purchases

According to Decrypt, Ajay Shinjin was imprisoned following a criminal investigation into his involvement in a SIM‑swap scheme that occurred in November 2021. The scheme involved hijacking the phone numbers of BT customers, enabling the theft of nearly $265,000 worth of cryptocurrency. After the numbers were compromised, Shinjin used the stolen crypto to purchase items such as gold grills and to fund travel to Dubai. Authorities have confirmed that the individual spent the illicit proceeds on those specific luxury and travel expenses. The case resulted in a jail sentence for Shinjin.