In January 2020, a number of prominent crypto influencers, including venture capitalists, entrepreneurs and traders in the cryptocurrency space, have been subject to a series of SIM swap attacks, where hackers bypassed two-factor authentication security measures and transferred funds out of their mobile wallets.
The attacks have targeted some of the leading figures in the crypto space, such as venture capitalist Anthony Pompliano, entrepreneur Jules Sutley and trader CryptoWhale, to name a few.
It appears that the hackers have managed to gain access to the victims’ mobile numbers by using social engineering techniques, or methods of tricking people into sharing personal information. The hackers then took control of the victims’ mobile numbers and then rerouted incoming calls and texts to another device they have access to.
The hackers used this access to bypass the two-factor authentication security measures associated with the victims’ wallets, enabling them to transfer funds out of the accounts and into their own.
Unfortunately, once the crypto has been transferred out of a wallet, it is almost impossible for victims of this type of attack to get their funds back. As such, the crypto influencers whose SIM nswap has been affected by the attack will likely never receive their funds.
These attacks serve as a reminder, especially to those in the crypto space, of the importance of using two-factor authentication and other security measures, as well as being aware of potential social engineering techniques used by hackers.
