Nicholas Truglia served with 18-month prison sentence: Bloomberg
Quick Take
-
Hacker Nicholas Truglia received an 18-month sentence, 12 months of which he has already served, for his role in a plot to steal millions in crypto, Bloomberg News reported.
-
During the hearing, Truglia also agreed to pay over $20 million in restitution.
Nicholas Truglia, the 25-year-old hacker who last year pleaded guilty to conspiracy to commit wire fraud, now faces 18 months in prison, Bloomberg News reported.
Truglia had been facing up to 63 months, and he's already served 12 months of the term.
Investor Michael Terpin previously won a $75.8 million judgment in a civil case against Truglia in May 2019. At the time, it was noted as one of the largest judgements against an individual in the crypto ecosystem.
Truglia, whose assets include $53 million in cryptocurrencies, art, and jewelry, the hearing revealed, agreed to pay over $20 million in restitution.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.