First Reported Instance of Crypto Stolen Through ‘SIM Jacking’

Source
Motherboard has claimed that the case contains the primary according instance within which the more and more prevailing technique of “SIM jacking” has been accustomed steal virtual currency.

According to the publication, “SIM swapping consists of tricking a supplier like AT&T or T-Mobile into transferring the target’s signal to a SIM card controlled by the criminal. Once they get the signal, fraudsters will leverage it to reset the victims’ passwords and forced the lock their on-line accounts (cryptocurrency accounts square measure common targets.) In some cases, this works albeit the accounts square measure protected by two-factor authentication.”