Summary
- A man from London has been sentenced to two and a half years in prison for a SIM-swap fraud that resulted in the theft of nearly £200,000 worth of cryptocurrency, according to City of London Police.
- Ajay Shinjin, who received over £44,000 of the stolen cryptocurrency, used the funds for luxury trips to Dubai, an upscale apartment, and gold-plated dental grills.
- In November 2021, BT discovered that several customer phone numbers had been transferred to SIM cards controlled by criminals, enabling them to intercept one-time passcodes.
A London resident has been sentenced to two and a half years in prison for his involvement in a “complex and calculated” SIM-swap fraud that led to the theft of approximately £200,000 ($265,000) in cryptocurrency, as reported by the City of London Police on Thursday.
Ajay Shinjin, 25, also known as AJ Marley Cruz, was sentenced at Inner London Crown Court after admitting to conspiracy to commit fraud by false representation and the transfer of criminal property on September 28.
A SIM-swap fraudster who misappropriated cryptocurrency to indulge in luxury holidays and gold dental grills has received a two-and-a-half-year prison sentence.
Ajay Shinjin, 25, of Marsh Wall in Canary Wharf, was implicated in the theft of nearly £200,000 in cryptocurrency.
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— City of London Police (@CityPolice) October 8, 2026
Shinjin acquired over £44,000 from the stolen funds, which he used for extravagant holidays in Dubai, a luxurious apartment in Canary Wharf, and gold-plated teeth grills.
In a SIM-swap scheme, criminals gain control of a victim's phone number by transferring it to a SIM card in their possession, allowing them to intercept one-time passcodes sent by banks and cryptocurrency platforms.
BT uncovered unauthorized activities in November 2021, where customer phone numbers were moved to SIM cards controlled by criminals. The investigation traced the devices used for these transfers, leading police to several suspects, including Shinjin, who was linked to four of the devices.
One victim lost around £40,000 in cryptocurrency on November 2, 2021, with Shinjin receiving approximately £27,000 in his personal crypto account. Another victim’s total loss of about £17,000 was also transferred to Shinjin’s wallet. He was additionally involved in stealing around £8,000 from a third victim's Coinbase account and about £130,000 from a fourth victim.
Shinjin was first apprehended at his residence in 2021 and was re-arrested at Heathrow Airport in October 2023 upon returning from Dubai after more evidence emerged. He remained silent during police questioning.
Detective Constable Simon Ardeman of the City of London Police stated, "SIM-swap fraud is a sophisticated and increasingly concerning form of offending, and this case demonstrates the devastating consequences it can have for victims."
Preventing SIM Swaps
The UK's National Fraud Database reported a staggering 402% increase in unauthorized SIM swap cases during the first half of 2026 compared to the same timeframe last year. Fraud prevention service Cifas highlighted that this surge is indicative of SIM swaps being increasingly exploited to intercept security codes and circumvent account protections.
Mark Birchall, a cybersecurity editor at Norton, recommends utilizing an authentication app for two-factor authentication instead of relying on text messages, as this method ties account access to a physical device rather than a phone number.
He also suggests establishing a separate PIN or passcode with your mobile carrier whenever feasible and enabling account takeover protection, which some carriers provide to enforce strict verification for account changes.
Birchall emphasized that SIM swapping raises concerns about the effectiveness of using a phone number as a verification method for identity.