Online

ZachXBT

Security

As the holiday season approaches, there is a concerning uptick in SIM-swap attacks, with notable figures in the crypto community falling victim to these security breaches.  
Among those targeted are Jae Chung, the founder of Manifold Trading, and Farokh, the founder of Rug Radio. The attacks resulted in unauthorized access to their X (formerly Twitter) accounts, where suspicious links were posted.  
Jae Chung and Manifold Trading's official X account experienced a SIM-swap attack on December 22, leading to the compromise of their X account.  
Chung clarified that the <a href="https://optimisus.com/news/crypto-news/aurory-gaming-on-solana-was-hit-by-a-major-hack-losing-80-in-aury-usdc-pool/" rel="noopener noreferrer nofollow">breach</a> was limited to their Twitter accounts, with all fund-sensitive information remaining secure. Similarly, Farokh, founder of Rug Radio, encountered a SIM-swap attack on December 21.  
Fortunately, his Twitter account had no linked phone number, minimizing the impact of the breach. Notably, Rug Radio recently merged with Decrypt, a prominent crypto publication.  
A SIM-swap attack involves hackers gaining control of an individual's phone number, allowing unauthorized access to various accounts, particularly those relying on SMS verification.  
The crypto community is increasingly becoming a target for such attacks, putting the online security of projects and figures at risk.  
Blockchain expert ZachXBT advises individuals to take precautions against SIM-swap attacks by avoiding linking two-factor authentication to a mobile number. Instead, he recommends using more secure methods, such as Google Authenticator, to enhance security measures.  
These recent attacks serve as real-life examples, highlighting the vulnerabilities within the crypto world. In October, users of the Friend-tech platform reported significant losses resulting from SIM-swap <a href="https://optimisus.com/press-releases/mantle-network-launches-mantle-learn-with-hackquest-to-onboard-web2-developers-to-web3/" rel="noopener noreferrer nofollow">hacks</a>.  
For instance, a user named "Froggie.eth" suffered a loss of over 20 Ether, equivalent to approximately $44,000, due to a SIM-swap attack. 
The post <a href="https://optimisus.com/news/crypto-news/surge-in-sim-swap-attacks-targets-crypto-community-compromising-online-security/" rel="noopener noreferrer nofollow">Surge in SIM-Swap Attacks Targets Crypto Community, Compromising Online Security</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Surge in SIM-Swap Attacks Targets Crypto Community, Compromising Online Security

Optimisus

Other articles published on Dec 24, 2023

New Year's message from Matrix AI Network CEO, Owen TAO!

DeFi vs. CeFi: What Should One Choose for Their Enterprise?

Testnet vs. Mainnet: Key Differences Everyone Should Know About

WHAT IS DIGITAL GOLD ?

CRO Coin Price: Sustainable Uptrend is Attracting Investors

Fastest blockchain – Here is the list

Join our free newsletter for daily crypto updates!