The Canadian teen was declared a $37 million Bitcoin (BTC) robbery and several X-account hacks.
This follows Zachxbt’s appeal, a chain of stricter penalties for Sim swapping and social engineering scammers.
Suspect’s verdict
Zachxbt revealed on the X-Post July 29th that Cameron Redman was convicted and ordered to pay compensation following his involvement in the $37 million Bitcoin theft and a related X-hacking case discovered by investigators.
Court documents show that Redman will be sentenced to 12 months and one day, followed by a three-year supervised release period for each count, with all sentences being offered simultaneously. He is also ordered to pay a special valuation of $400, a $248,257.07 reparation and a $60,000 fine.
On February 22, 2020, Canadian teenagers were able to use SIM swap attacks to control crypto investor Josh Jones’ mobile number and bypass two-factor authentication to access their wallet. He then stole 1,547 BTC and 60,000 Bitcoin cash (BCH), which was valued at about $37 million at the time.
Following the theft, Redman began washing stolen assets through hundreds of small transactions. These tokens were eventually concentrated through central exchange, trying to hide the trail.
The perpetrator was later linked to phishing scams and several NFT profile hacks in X. According to ZachxBT, in June 2022, Redman provided access to the internal X-panels for sale on the platform SWAPD. It was then sold for 250 ETH, leading to millions of thefts through more than 10 account compromises and phishing scams.
The detective added that the Canadian youth first used fake ID documents in SWAPD and then submitted actual information, withdrawing the proceeds from the sale through Tornado Cash, and then depositing the funds into stake accounts.
On-chain data linked the wallet he used to the compromised X account. The investigation has identified victims such as Beeple, Decay, Zeneca, noun dao and JRNY clubs.
I’m looking for stricter rules
The suspect was formally charged by Ontario’s Hamilton Police Department on November 17, 2021. Authorities have recovered $5.4 million in crypto, but the remaining $31.5 million is still missing.
At the time of his arrest, Redman was still a legal minor, so his name remained sealed and his photos were not published. Zachxbt previously highlighted how this type of secret is part of the matter, saying that the identity of the convicted offender should have been previously revealed to prevent further misconduct.
These cases are on the rise, with a Keepnet Labs survey showing a 1,055% increase in SIM swap incidents in the UK in 2024. The state of Elliptic’s Crypto Scams 2025 analysis highlighted phishing as an important method used by cybercriminals such as Lazarus in North Korea, where attackers increasingly automate using AI tools.
Meanwhile, ZachxBT previously reported that between November and December last year, one hacker stole over $500,000 over 15X accounts.
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