Florida Man Sentenced to 10 Years and $13 Million Restitution for Multi-Million Dollar Cryptocurrency Theft Scheme
Palm Coast, Fla. – Noah Michael Urban, a 20-year-old man from Palm Coast, Florida, was sentenced Wednesday to 10 years in federal prison for orchestrating a vast cryptocurrency theft campaign linked to the notorious cybercrime group known as “Scattered Spider.” In addition to his prison term, Urban was ordered to pay $13 million in restitution, marking a significant legal victory against sophisticated digital criminals.
The sentencing, handed down by a federal judge, exceeded the prosecution’s recommendation of eight years and far surpassed the defense’s request for five years. Urban will also face three years of supervised release following his incarceration, along with an order to forfeit cryptocurrency, cash, and valuables amassed through his crimes.
Details of the Crime and Conviction
Urban pleaded guilty earlier this year to multiple felony counts including conspiracy to commit wire fraud, wire fraud, and aggravated identity theft. These charges arose from two separate federal cases—one in Florida and one in California—that collectively exposed his role in a wide-reaching cybercrime operation targeting cryptocurrency holders and corporate networks.
Authorities detailed how between August 2022 and March 2023, Urban employed a tactic known as SIM swapping to steal at least $800,000 in cryptocurrency from five individual victims. This method involves convincing telecom providers to transfer victims’ mobile phone numbers to devices controlled by Urban and his co-conspirators, enabling them to intercept SMS-based two-factor authentication messages and reset account passwords to commandeer victims’ crypto wallets.
Beyond individual thefts, Urban participated in a broader phishing campaign—often called “smishing”—targeting corporate employees via deceptive SMS messages. These texts directed victims to counterfeit login sites that tricked them into revealing credentials. The group then leveraged these credentials to infiltrate corporate networks and pilfer cryptocurrency wallets. This scheme, active from September 2021 to April 2023, resulted in at least $11 million stolen in cryptocurrencies.
Scattered Spider Cybercrime Gang
The “Scattered Spider” group involved in Urban’s activities is infamous for breaching more than 130 major companies, employing advanced social engineering and hacking techniques. Urban operated under multiple aliases, such as “King Bob,” “Sosa,” and “Gustavo Fring,” illustrating his deep immersion into cybercriminal networks.
Federal investigations estimate the total financial loss caused by Urban’s criminal enterprise ranging between $9.5 million and $25 million. His conviction represents the first sentencing of a Scattered Spider member, setting a precedent in tackling cybercriminal organizations aggressively.
Impact and Law Enforcement Efforts
Recovery of stolen cryptocurrency remains notoriously challenging due to rapid and pseudonymous transactions across global exchanges. However, recent efforts by local law enforcement, such as the Flagler County Sheriff’s Office Cybercrimes Unit, have made groundbreaking strides in recovering stolen crypto funds, signaling progress in combatting this form of crime.
Urban’s sentencing serves as a warning to cybercriminals exploiting emerging digital finance technologies. It also underscores the growing capacity of the justice system to hold offenders accountable for complex cyber-enabled financial crimes.
Reporting by local and federal law enforcement agencies, and government prosecutors.