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Using Stolen Passwords This Man Made 25 Million Dollars

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A former founder of a T-Mobile store in the US, guilty of using stolen credentials to unlock a " huge number of cellphones", made around $25 million from the illegal tactics.

The US Department of Justice has found that Argishti Khaverdyan (44) was guilty of stealing T-Mobile employees' credentials and illegally accessing company internal computer systems to "unlock" and "unblock" cell phones.

Khudaverdyan was the leader of a multi-year scheme that illegally unlocked thousands of cellphones. This scheme generated about $25 million in criminal proceeds.

The Justice Department released a statement late Tuesday night stating that he and others had stolen over 50 T-Mobile employee credentials. 

They also unlocked and unblocked hundreds of thousands of cellphones throughout the scheme.

Between August 2014 and June 2019, Khudaverdyan fraudulently unlocked and unblocked cellphones on T-Mobile's networks and those of Sprint, AT&T, and other carriers.

T-Mobile customers were able to stop using T-Mobile services by removing the unlock. 

This allowed them to sell the phones on the black marketplace and deprive T-Mbile of revenue from equipment instalment plans and service contracts.

Khudaverdyan promoted his fraudulent unlocking services via brokers, email solicitations and websites like unlocks247.com.

He falsely proclaimed that the fraudulent unlocks he provided were official T-Mobile unlocks.

Khudaverdyan faces at least two years imprisonment for aggravated theft and as high as 165 years for wire fraud, money laundering and accessing computers without authorization.