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Noah Urban Sentenced to 10 years in Federal Prison for Multi-Million Dollar Cryptocurrency Fraud
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Noah Michael Urban, 20, of Palm Coast, Florida, has been sentenced to 10 years in federal prison for conspiracy to commit wire fraud, wire fraud, and aggravated identity theft. U.S. District Judge Harvey E. Schlesinger also ordered urban to forfeit approximately $4.8 million in assets and pay $13 million in restitution [[1]].Urban pleaded guilty on April 4, 2025.
Details of the Scheme
From August 2022 through March 2023, Urban and others engaged in a scheme to steal cryptocurrency from at least 59 victims across the United States [[2]].The scheme involved “SIM swaps,” where they obtained victims’ personal identification information (PII) to hack into their cryptocurrency accounts [[3]].
Did You No?
SIM swapping is a type of account takeover fraud where criminals trick mobile carriers into transferring a victim’s phone number to a SIM card they control.
Additionally, Urban participated in a group that targeted employees of companies nationwide with phishing text messages. They harvested employee credentials to gain access to company data and then used that information, along with data from leaked sources, to steal millions of dollars in cryptocurrency from individuals’ accounts.
Evidence and Examination
The FBI executed a search warrant at Urban’s residence,discovering evidence on his computer linking him to the victims’ email accounts and cryptocurrency wallets. Approximately $4.8 million in stolen cryptocurrency was found on his devices.The total loss to the victims exceeded $13 million.
Tip: Always be wary of unsolicited text messages or emails asking for personal information, and enable two-factor authentication on all your accounts.
Prosecution and Legal Representation
The case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant United States attorney John Cannizzaro of the Middle District of Florida and assistant United States Attorney Lauren Restrepo of the Central District of California.
Key Details at a Glance
| Defendant | sentence | Forfeiture | Restitution | Victims | Timeframe |
|---|---|---|---|---|---|
| Noah Michael Urban | 10 years in federal prison | $4.8 million | $13 million | 59+ | August 2022 – March 2023 |
Is the increasing sophistication of these cryptocurrency scams a sign of a larger trend in cybercrime? What steps can individuals and companies take to better protect themselves from these types of attacks?
