A member of the Scattered Spider cybercrime group has entered a guilty plea regarding various charges associated with the theft of cryptocurrency and confidential corporate data.
Noah Michael Urban, 20, finalized a plea deal in Florida on Friday and may face up to 60 years in prison on multiple counts that include wire fraud and aggravated identity theft.
Urban was apprehended last year amid allegations from federal prosecutors that he played a significant role in the Scattered Spider group, which is infamously known for employing the SIM swap method to hijack victims’ phones and bypass two-factor authentication.
Together with four accomplices, Urban allegedly utilized this technique to pilfer millions in cryptocurrency and infiltrate major businesses, resulting in the exposure of sensitive corporate documents. While two additional suspects have been detained, the status of the remaining duo is unclear.
In March 2023, law enforcement confiscated $2.89 million worth of cryptocurrency from Urban’s desktop during a raid of his residence. Among the charges to which he pleaded guilty, three were filed by federal authorities in Florida, while another was transferred from federal courts in California.
U.S. authorities estimate the total losses incurred due to his actions to be between $9.5 million and $25 million. Urban has agreed to forfeit all cryptocurrency seized during the raids and will pay over $13 million in restitution to more than 30 victims.
Operating under aliases such as “Sosa,” “Elijah,” and “King Bob,” Urban was part of a loosely organized group engaging in account takeovers and the theft of cryptocurrency from online exchanges from August 2022 to March 2023. The group exploited stolen identities to infiltrate systems and conducted phishing schemes aimed at employees of targeted companies, thereby stealing confidential information and cryptocurrency.
