London Man Jailed for 2.5 Years in SIM-Swap Fraud Involving 265000 Dollars in Crypto

Ajay Shinjin, 25, has been sentenced to two and a half years in prison for his involvement in a SIM-swap fraud that stole nearly 200000 pounds (265000 dollars) worth of cryptocurrency. He pleaded guilty on September 28 to conspiracy to commit fraud and transferring criminal property. Shinjin received over 44000 pounds of the stolen funds, which he used for luxury holidays in Dubai, a high-end apartment in Canary Wharf, and gold-plated teeth grills. The fraud involved criminals taking control of victims' phone numbers to intercept one-time passcodes from banks and crypto platforms. In November 2021, unauthorized activity was detected by BT, leading to an investigation that linked Shinjin to four devices used in the scheme. One victim lost about 40000 pounds in crypto, with Shinjin receiving approximately 27000 pounds into his personal account. He was arrested in 2021 and again in October 2023 upon returning from Dubai. Detective Constable Simon Ardeman stated that SIM-swap fraud is a sophisticated crime with devastating effects on victims. Unauthorized SIM swap cases in the UK rose 402% in the first half of 2026 compared to the previous year, according to Cifas.

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