Tyler Robert Buchanan, a UK citizen, has pleaded guilty to charges related to a series of SMS phishing attacks conducted between September 2021 and April 2023. The U.S. Department of Justice revealed that Buchanan infiltrated systems of over ten companies, stealing information and using SIM card swapping to bypass two-factor authentication. This allowed him to gain control of victims' crypto accounts and wallets, resulting in the theft of at least $8 million from multiple U.S. individuals. Buchanan faces charges of conspiracy to commit wire fraud and aggravated identity theft, with a potential sentence of up to 22 years in federal prison. Several co-defendants are still awaiting trial.