Two Indicted in Latest Federal Prosecution of SIM-Swapping Crypto Theft

Two Indicted in Latest Federal Prosecution of SIM-Swapping Crypto Theft
SIM card
(Shutterstock)

Federal prosecutors on Wednesday for stealing cryptocurrency from victims through a SIM-swapping and phishing fraud scheme.

The case should remind members of the cryptocurrency community of the dangers of storing crypto on hot wallets, especially those secured via two-factor authentication methods such as text confirmation. Weakly secured cellular accounts are often an inadequate defense against hackers bent on compromising known crypto holders’ wallets.

Read more:

Market Wrap: Bitcoin Slips to $12.8K; Ether Options Traders Prefer Calls

Previous

BitLicense Holder SoFi’s Application to Create a National Bank Conditionally Approved by US

Next

More