Mechanics of a Crypto Heist: How SIM Swappers Can Steal Cryptocurrency

Published: January 3, 2020 | by Bitcoin Press News Team

The true vulnerability at the heart of SIM-swap attacks on crypto accounts lies in crypto exchanges’ and email providers’ variable implementation of 2FA.

Recently, I shared with you how alarmingly simple it was to not only "hack" my own email account but then to use that compromised account to hack my other online accounts. Given how SIM-swap attacks on cryptocurrency exchanges escalated in 2019, I wanted to better understand these modern-day bank heists as we go into the new year. My hunch was that SIM swappers were using hijacked phone numbers like a set of keys to open locked doors […]