Avalanche

<p class="is-style-lead">Decentralized social media platform Friend.tech has launched a new 2FA feature to counter rising SIM-swap attacks targeting its users.</p> 
<p>The team behind the decentralized app announced in an Oct. 9 X post that users can now set up a 2FA password on their Friend.tech accounts for extra security in case their mobile carrier or email provider is compromised.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">You can now add a 2FA password to your <a href="https://t.co/YOHabcBL3H" target="_blank">https://t.co/YOHabcBL3H</a> account for additional protection if your cell carrier or email service becomes compromised.<br><br>Neither the friendtech nor Privy teams can reset these passwords, so please use care when using this feature <a href="https://t.co/g0m2E4att2" target="_blank">pic.twitter.com/g0m2E4att2</a></p>— friend.tech (@friendtech) <a href="https://twitter.com/friendtech/status/1711520971033903575?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 9, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Users will be prompted to set up this extra password when they sign in on new devices.</p> 
<p>Importantly, neither Friend.tech nor its security partner, Privy, can reset these passwords, so users are advised to exercise caution when setting them up.</p> 
<h2 class="wp-block-heading" id="friend-tech-users-targeted-by-sim-swap-attacks">Friend.tech users targeted by SIM-Swap attacks</h2> 
<p>The move to enhance security protocols follows a series of SIM-swap attacks affecting Friend.tech users since September.</p> 
<p>These attacks have led to the theft of an estimated 109 Ether (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/">ETH</a>), equivalent to nearly $500,000. One hacker alone was responsible for stealing close to $400,000 from various accounts on the platform.</p> 
<p> You might also like: <a href="https://crypto.news/sim-swap-scams-growing-threat-to-crypto-community/"> SIM swap scams: growing threat to crypto community </a> </p> 
<p>Yu Xian, the founder of cybersecurity firm Slow Mist, tested the new 2FA feature and shared his experience on social media. His findings indicate that the feature is functional and adds a needed layer of security.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="zh" dir="ltr">测试了下 <a href="https://t.co/xvDZPEKscJ" target="_blank">https://t.co/xvDZPEKscJ</a> 新增的 2FA 机制，这个 2FA 实际上是让用户设置了个独立的密码，当用户在进行资金有关操作时：<br><br>– buy/sell key<br>– withdraw 资金<br>– exprot 私钥<br><br>需要验证一次这个独立密码（这些验证由 <a href="https://twitter.com/privy_io?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@privy_io</a>… <a href="https://t.co/BLwSLdeA78" target="_blank">https://t.co/BLwSLdeA78</a></p>— Cos(余弦)😶‍🌫️ (@evilcos) <a href="https://twitter.com/evilcos/status/1711585533724659950?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 10, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Friend.tech had previously <a href="https://crypto.news/friend-tech-announces-new-features-following-sim-swapping-attack/">rolled out security updates </a>on Oct. 4, which allowed users to add or remove different login methods.</p> 
<p>However, some argue that the 2FA feature should have been introduced sooner, given the severity and frequency of the attacks.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">took you long enough</p>— TTT |$BBg (@ThinTallTosin) <a href="https://twitter.com/ThinTallTosin/status/1711521038977159623?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 9, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>On Oct. 9, Jason Yanowitz, founder of Blockworks, provided insights into <a href="https://crypto.news/hackers-target-friend-tech-users-with-cunning-verification-scam/">how the SIM-swap attacks are carried out</a>.</p> 
<p>Attackers send text messages to users, ask them to change their numbers, and require a “YES” or “NO” response.</p> 
<p>If the user responds with “NO,” they receive a legitimate verification code from Friend.tech, which the scammer then prompts them to forward.</p> 
<p>Failure to respond within two hours results in the change being made, putting the account at risk.</p> 
<p>Earlier today, the head of Defiant News reported that his Friend.tech wallet was emptied due to a sophisticated phishing scam, adding another layer of urgency to the platform’s need for robust security measures.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">My friendtech wallet was compromised through an elaborate phishing scam and my 22 ETH portfolio was nuked to 0😢<br><br>They just bridged my ETH using Orbiter, and some has just been deposited to <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@binance</a> <a href="https://t.co/dKIgKLPGop" target="_blank">https://t.co/dKIgKLPGop</a><a href="https://t.co/ZJVSdW0AHW" target="_blank">https://t.co/ZJVSdW0AHW</a> <a href="https://t.co/zgz9T2LvLW" target="_blank">pic.twitter.com/zgz9T2LvLW</a></p>— yyctradΞr (@yyctrader1) <a href="https://twitter.com/yyctrader1/status/1711594959680512079?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 10, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> Read more: <a href="https://crypto.news/friend-tech-competitor-stars-arena-driving-on-chain-boom-on-avalanche/"> Friend.tech competitor Stars Arena driving on-chain boom on Avalanche </a> </p>

Friend.tech rolls out 2FA feature amid surge in SIM-swap attacks

Table of Contents

crypto.news

Other articles published on Oct 10, 2023

XRP's "Gods Candle" Update: A Glimpse into the Crypto's Future

For crypto RFK Jr. abandons the Democrats to run as an independent for US presidency

Recent Behavior of Whale and Shark Wallets in Ripple (XRP) Astonished: “Although Whale Activity D...

Tezos Price Gains Over 6%: Can XTZ Crypto Skip Consolidation?

MultiversX 2023: Can EGLD Boost Upward By Upcoming XDay Event?

Ukraine Unveils Roadmap to Regulate AI and Cryptocurrency Industries in Alignment with EU AI Act

Join our free newsletter for daily crypto updates!