Polish authorities have arrested four suspected members of a SIM swapping gang accused of stealing millions of dollars in cryptocurrency. Investigators say the group breached telecommunications partners, hijacked email accounts, and took control of victims’ phone numbers to access cryptocurrency exchange accounts.
The operation involved the Polish Cybercrime Bureau (CBZC) with support from the FBI and Homeland Security Investigations (HSI) in the United States.
SIM Swapping Gang Targeted Telecom Partners
According to investigators, the suspects carried out sophisticated cyberattacks against organizations that worked with telecommunications providers.
The attackers used specialized software and social engineering to gain unauthorized access to internal systems and employee email accounts. After collecting sensitive customer data, they launched SIM swapping attacks that transferred victims’ phone numbers to SIM cards under their control.
Once they hijacked a phone number, the criminals intercepted SMS messages, authentication codes, and email communications.
Attackers Stole Cryptocurrency Accounts
The SIM swapping gang allegedly used the stolen authentication data to take over cryptocurrency exchange accounts.
Investigators believe the group stole millions of U.S. dollars before laundering the proceeds through a distributed financial network. Authorities say the suspects moved the funds across numerous bank accounts in different countries and through multiple cryptocurrency wallets to hide the money trail.
The Polish Cybercrime Bureau estimates that the criminals laundered more than several tens of millions of Polish złoty, equal to at least $5 million at current exchange rates.
Four Suspects Face Serious Criminal Charges
Authorities placed all four suspects in pre-trial detention following the arrests.
Prosecutors have charged them with participating in an organized criminal group, illegally accessing IT systems to commit theft, and laundering criminal proceeds. If convicted, they could face prison sentences of up to 25 years.
Blockchain Investigator Identifies One Suspect
The Polish Cybercrime Bureau did not publicly identify the arrested individuals.
However, blockchain investigator ZachXBT said one of the suspects appears to be Wojtek Kulisz, also known as “Merry.” The researcher reached that conclusion after reviewing photographs released by Polish authorities following the operation.
International Cooperation Targets Crypto Crime
The investigation highlights the growing cooperation between international law enforcement agencies in the fight against cryptocurrency theft.
By combining technical investigations with intelligence sharing, authorities continue to target organized cybercrime groups that use SIM swapping attacks to bypass two-factor authentication and steal digital assets.
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