Swap

Quick take:
<ul>
 <li>FriendTech users have lost 109 ETH in SIM swap and email attacks.</li>
 <li>X user “froggie.eth” was the first to warn FriendTech users that his phone number had been SIM-swapped and 20 ETH stolen.</li>
 <li>More reports emerged on Tuesday with musician Daren Broxmeyer saying he lost 22 ETH after he was SIM-swapped.</li>
</ul>
Friend.Tech the decentralised social network that has recently been <a href="https://www.nftgators.com/will-friend-tech-achieve-what-clubhouse-and-threads-couldnt/" rel="noopener noreferrer nofollow">gaining popularity</a> in the crypto community may have hit its major setback since launching in August 2023. According to some of its users, attackers are targeting those using mobile phones for 2-factor authentication through SIM swaps.
The first person to notice this exploit was X <a href="https://twitter.com/brypto_/status/1708055944360255600" target="_blank" rel="noopener noreferrer nofollow">user “froggie.eth</a>”, who warned FriendTech users after his phone was SIM-swapped and 20 ETH lost to the hackers.&nbsp;
“Got swim swapped for 20+ ETH (they drained my http://friend.tech)… stay vigilant out there bros,” he wrote, urging users to set a pin on their SIM even if they don’t need to. But does a SIM PIN really guarantee security? As it turns out, hackers have found an easier way of overring PIN on SIM.
In 2019, a <a href="https://www.foxla.com/news/fox-11-tracks-down-verizon-employee-accused-of-taking-bribes-from-sim-swap-hackers" target="_blank" rel="noopener noreferrer nofollow">Verizon employee</a> was accused of taking thousands of dollars in bribes to assist SIM swap criminals.&nbsp;
Since “froggie.eth’s” warning on September 30, more complaints have emerged with FriendTech user @digging4doge claiming to have lost nearly 60 ETH worth of keys. Musician Daren Broxmeyer also lost 22 ETH to hackers according to a post on X.
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 I was just SIM swapped and robbed of 22 ETH via <a href="https://twitter.com/friendtech?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@friendtech</a> The 34 of my own keys that I owned were sold, rugging anyone who held my key, all the other keys I owned were sold, and the rest of the ETH in my wallet was drained. If your Twitter account is doxxed to your real… <a href="https://t.co/5wA86mjYEG" rel="noopener noreferrer nofollow">pic.twitter.com/5wA86mjYEG</a>— daren (friend, friend) (@darengb) <a href="https://twitter.com/darengb/status/1709021872178729409?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 3, 2023</a>
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He claimed to have been spammed with a flurry of phone calls, which prevented him from seeing a text from Verizon warning him that someone was trying to access his account.
Another FriendTech user, going by the pseudonym “dipper” on X claimed to have lost 6.5 ETH after his wallet was compromised by a hacker.
“My FT account was just compromised, [the] hacker dumped all keys and moved everything to another address,” he wrote, adding the affected address.&nbsp;
According to crypto investment firm, Manifold Trading, if a Friend.Tech account is compromised through a SIM swap or an email hack, the hacker can drain the whole account, leaving the account holder with nothing.
Every account connected to a phone number is at risk of a SIM swap, states Manifold, which partly blames FriendTech’s currency technical setup.
“FriendTech’s current setup also technically allows a rogue dev to reconstruct private keys via Shamir-Secret-Sharing shares that they can recover from user data in their database – so in reality, the whole TVL is at risk,” Manifold wrote on X.
The investment firm went on to add details of how people can protect their accounts from such exploits.
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 If any hacker gains access to a FriendTech account via simswap/email hack, they can rug the whole account If you assume 1/3 of FriendTech accounts are connected to phone numbers, that's $20M at risk from sim-swaps FriendTech's current setup also technically allows a rogue dev… <a href="https://t.co/XgodMNSh2l" rel="noopener noreferrer nofollow">https://t.co/XgodMNSh2l</a>— Manifold (@ManifoldTrading) <a href="https://twitter.com/ManifoldTrading/status/1708975441539744050?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 2, 2023</a>
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The post <a rel="noopener noreferrer nofollow" href="https://www.nftgators.com/hackers-target-freindtech-users-as-more-than-100-eth-drained-in-sim-swap-attacks/">Hackers Target FreindTech Users as More than 100 ETH Drained in SIM Swap Attacks</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://www.nftgators.com">NFTgators </a>.

Hackers Target FreindTech Users as More than 100 ETH Drained in SIM Swap Attacks

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