Nov 062018

From TrustNodes:

Turkish police has arrested 11 individuals on suspicion of hacking cryptocurrencies through Sim Swapping.

The individuals in question allegedly tricked phone providers into transferring the victim’s phone number to them.

Apparently fake IDs were prepared for this operation, according to local crypto media, with the thieves pretending the victim’s phone was stolen. They then managed to persuade phone providers to send them a new sim with the victim’s phone number. The real owner’s sim card was canceled.

The victim’s phone number was then used to reset the password through two factor authentication (2FA) password resets.

Read more on TrustNodes.

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