Hackers steal $2.4 million through SIM cards

Posted 11 May, 2019

Cryptocurrency theft is becoming a popular target for hacker groups that are developing new theft methods “SIM Swapping”.

According to the indictment, the six defendants were allegedly part of a hacker group called “The Community”. The group attacked several cryptocurrency accounts and plundered user funds. Hackers request two-factor authentication (2FA) codes that allowed them to bypass security measures and enter cryptocurrency services.

They used both cryptocurrencies and portfolios. According to the Ministry of Justice ''The Community'' stole more than $2.4 million.

“Mobile phones today are not only a means of communication but also a means of identification, this case should serve as a reminder to all of us to protect our personal and financial information from those who seek to steal it.” stated United States Attorney Matthew Schneider.  

Hackers usually stole money via exchanging SIM-card owner data. An attacker, as a rule, gains control of the SIM card, call operator’s phone number in order to change the phone number on the SIM card controlled by the hacker. In this case, up to three mobile network operators helped hackers to exchange SIMs. 

The criminals are currently in custody and face up to 20 years in prison.

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11 May, 2019 14:52

← Buterin and Lubin decide to back MolochDAO project

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Buterin and Lubin decide to back MolochDAO project

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