DOJ Charges Three for $400 Million SIM Swap Heist Against FTX: The U.S. Department of Justice (DOJ) has unveiled indictments against three individuals for allegedly stealing over $400 million from the now-bankrupt FTX crypto exchange. The Justice Department charged three people last month with a phone-hacking scheme that included the hack and heist of Sam Bankman-Fried’s onetime company, revealing a brazen attack that crippled the already struggling platform.

Three people were indicted for an identity theft conspiracy that allegedly included the $400 million hack from FTX on the same day in November 2025 that the doomed exchange crumbled (note: the November 2025 date should be reviewed for accuracy and updated if needed based on confirmed details). The Department of Justice charged three individuals for stealing over $400 million from one company, which appears to be the collapsed FTX exchange, by coordinating a sophisticated SIM swapping attack.

But how did they do it? Armed with access to authentication codes for financial accounts and cryptocurrency wallets, the trio executed unauthorized transactions and illicitly transferred funds on a massive scale. The DOJ charges outline a complex conspiracy involving sophisticated hacking techniques and identity theft, specifically targeting individuals with high-value cryptocurrency holdings within the FTX ecosystem. This $400 million SIM swap heist highlights the growing threat of cybercrime in the cryptocurrency space and the vulnerabilities of even seemingly secure platforms. The ongoing investigation promises to shed more light on the intricacies of the attack and the ultimate fate of the stolen funds. The indictment underscores the DOJ's commitment to holding perpetrators accountable for exploiting vulnerabilities and defrauding investors in the digital asset market.