Soufiane Oulahyane, a Moroccan citizen, has been indicted by the United States Attorney for the Southern District of New York on allegations of orchestrating a substantial cryptocurrency and non-fungible token (NFT) heist. The indictment claims that Oulahyane masterminded a sophisticated scheme involving the creation of a deceptive replica of the popular OpenSea digital marketplace, ultimately resulting in the theft of digital assets valued at approximately $450,000.
Deceptive replica and unauthorized access
According to the indictment, Oulahyane is accused of meticulously crafting a fraudulent website that closely resembled the legitimate OpenSea platform. Utilizing paid advertisements, he ensured that his counterfeit site gained prominent visibility in search results for the term “OpenSea.” Unsuspecting users, unaware of the ruse, would unwittingly provide their login credentials on the fake platform, unknowingly transmitting their sensitive information to an email account controlled by Oulahyane.
The alleged scheme unfolded in September 2021, leading to significant financial losses. The primary victim, residing in Manhattan, unintentionally disclosed their seed phrase on the fraudulent website, a crucial sequence of words used to access a cryptocurrency wallet. Exploiting this sensitive information, Oulahyane allegedly gained unauthorized access to the victim’s wallet, including 39 NFTs. Among the stolen assets was a highly sought-after Bored Ape NFT, initially purchased by the victim for an estimated value of 49 ETH.
Stolen assets and criminal charges
Following the alleged unauthorized access, the indictment states that Oulahyane proceeded to sell two NFTs: a Meebit and a Bored Ape Kennel Club NFT. The victim had initially acquired these digital assets for approximately 9.88 ETH and 6 ETH, respectively. Oulahyane purportedly offloaded the stolen NFTs on the legitimate OpenSea marketplace, subsequently transferring the illicit proceeds to an inaccessible wallet. The total value of the stolen digital collectibles is estimated to be around $450,000.
Oulahyane now faces a series of charges, including wire fraud, unauthorized access device usage, and aggravated identity theft. If convicted, he may be subjected to severe penalties. It is important to note that Oulahyane is currently in custody in Morocco, awaiting potential extradition to the United States to face trial.