A UK court has jailed a 25-year-old man for two-and-a-half years over a cryptocurrency SIM-swap fraud involving four victims.
Who Was Convicted in the Cryptocurrency Fraud?
Ajay Shinjin, also known as AJ Marley Cruz, was sentenced at Inner London Crown Court on October 8, 2026, for his involvement in a SIM-swapping operation that resulted in cryptocurrency thefts worth nearly ₹2.56 crore.
According to the City of London Police, Shinjin received more than ₹56 lakh from the stolen funds. He used the proceeds to finance luxury holidays in Dubai, a high-end apartment in London’s Canary Wharf and gold-plated dental grills. Shinjin pleaded guilty on September 28 to conspiracy to commit fraud by false representation and transferring criminal property.
The case involved four victims whose cryptocurrency holdings were targeted during November 2021.
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How Did the SIM-Swapping Operation Work?
The investigation began after telecommunications company BT detected unauthorised activity on its systems during the first week of November 2021. Investigators discovered that customers’ telephone numbers had been transferred to SIM cards controlled by criminals.
SIM swapping allows fraudsters to take control of another person’s mobile number and intercept one-time passwords delivered through text messages. These authentication codes can then be exploited to access online accounts, including cryptocurrency wallets.
BT subsequently identified devices receiving the transferred telephone numbers and provided information that helped investigators identify several suspects. Shinjin was linked to four devices used in the SIM-swapping operation.
Police established that cryptocurrency was stolen from four victims between November 2 and November 7, 2021.
How Much Cryptocurrency Was Stolen?
One victim lost cryptocurrency worth approximately ₹51.2 lakh, of which around ₹34.56 lakh was transferred into Shinjin’s personal cryptocurrency account.
Another victim lost approximately ₹21.76 lakh, with the stolen cryptocurrency subsequently traced to his wallet.
A third victim lost around ₹10.24 lakh from a Coinbase account. Investigators established that Shinjin helped facilitate the theft.
The fourth victim suffered the largest reported individual loss, approximately ₹1.66 crore, over November 6 and 7. Together, the four cases involved cryptocurrency worth nearly ₹2.56 crore.
Shinjin was initially arrested at his apartment in 2021. He was arrested again at Heathrow Airport in October 2023 after returning from Dubai, following the discovery of additional evidence connecting him to the operation.
What Did Police Say About the Conviction?
Detective Constable Simon Ardeman of the City of London Police described the operation as a complex fraud that caused substantial financial harm. He said the deliberate exploitation of SIM-swapping technology enabled Shinjin to access cryptocurrency accounts and steal funds belonging to several victims.
Police identified SIM swapping as an increasingly concerning method of fraud because criminals can exploit control over mobile numbers to compromise accounts protected by text-message authentication.
The conviction followed an investigation involving telecommunications records, cryptocurrency transactions and evidence linking the defendant to devices used in the operation.
The case illustrates how unauthorised mobile-number transfers can expose financial accounts to theft, even when those accounts use one-time passwords as an additional security measure.
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