Ajay Shinjin was sentenced to two and a half years in prison for his role in a SIM-swap fraud that cost four victims almost £200, 000 in cryptocurrency, according to Yahoo News, which cited City of London Police. The losses were reported in pounds. The reporting does not say that 200, 000 Bitcoin was stolen, or identify Bitcoin as one of the assets involved.
- Shinjin pleaded guilty to fraud-related offenses and was sentenced at Inner London Crown Court.
- The reported losses across four victims total roughly £195, 000.
- SIM swapping can expose accounts that rely on text messages, but it is not a hack of the Bitcoin network.
What happened in the SIM-swap case?
Yahoo News reports that Shinjin, 25, also known as AJ Marley Cruz, pleaded guilty to conspiracy to commit fraud by false representation and transferring criminal property. He entered his plea on September 28, though the report does not specify the year or give his sentencing date.
The SIM-swap activity came to light in early November 2021, when BT detected customer phone numbers being transferred to SIM cards controlled by criminals. Yahoo reports that investigators traced devices used to receive the transferred numbers and linked Shinjin to four of them.
The case involved four victims. About £40, 000 in cryptocurrency was taken from one victim on November 2, 2021, with roughly £27, 000 reportedly reaching Shinjin’s personal crypto account. Around £17, 000 from a second victim reportedly ended up in his wallet. He also reportedly helped steal about £8, 000 from a third victim’s Coinbase account. A fourth victim lost about £130, 000.
The approximate losses total about £195, 000, in line with the description of almost £200, 000. Yahoo reports that Shinjin received more than £44, 000 of the proceeds. The roughly £27, 000 and £17, 000 attributed to the first two victims alone add up to about £44, 000. These are estimates, not a complete or independently reconciled accounting.
Yahoo also reports that Shinjin was arrested at his flat in 2021 and again at Heathrow Airport in October 2023, after further evidence emerged. He gave no comment during police interviews, according to the report.
Why the Bitcoin figure matters
The headline figure of “200, 000 Bitcoin” is not supported by the reported case details. The losses were described as almost £200, 000 worth of cryptocurrency, not 200, 000 BTC. The reporting gives no breakdown by token, so it does not establish whether Bitcoin was among the stolen assets.
That distinction matters. A pound-denominated estimate cannot be converted into a specific amount or type of cryptocurrency without more information. The accurate description is a cryptocurrency theft involving almost £200, 000, not a 200, 000-Bitcoin theft.
How SIM swapping can put crypto accounts at risk
A SIM swap is a fraud in which a criminal persuades a mobile carrier to transfer someone’s phone number to a SIM card they control. Calls and text messages meant for the victim may then arrive on the criminal’s device.
If an account uses SMS for login codes or password recovery, control of the phone number can help an attacker access it. Yahoo reports that codes sent by banks and crypto platforms were intercepted in this case, but does not explain how each victim’s accounts were accessed. It is unclear whether the same method was used for every loss.
The target is control of a phone number and, potentially, the online accounts linked to it. It is not Bitcoin’s protocol or blockchain. A compromised exchange account is a serious security failure, but it does not mean the Bitcoin network was hacked.
Using an authenticator app instead of SMS and asking a mobile carrier about account PINs or protections against unauthorized number transfers can reduce the risk. Neither measure is foolproof. Other recovery channels, such as a compromised email account, can still give attackers a way in.
Key questions and answers
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Was 200, 000 BTC stolen?
No. Yahoo News reports losses of almost £200, 000 worth of cryptocurrency. It does not identify the stolen assets as Bitcoin or give a BTC amount.
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How does a SIM swap work?
A criminal takes control of a victim’s phone number by transferring it to a SIM card they control. This can expose accounts that use text messages for login or recovery, though the reporting does not detail the exact method used for every victim in this case.
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Was the Bitcoin network compromised?
Nothing in the reporting suggests it was. The reported fraud involved phone numbers and online accounts, not a breach of Bitcoin’s network.
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How much of the proceeds did Shinjin receive?
Yahoo reports that he received more than £44, 000. That figure comes from the reporting and does not account for all of the victims’ losses.
