• Latest
Victims Sue AT&T, T-Mobile Over ‚SIM Swap‘ Crypto Hacks

Victims Sue AT&T, T-Mobile Over ‚SIM Swap‘ Crypto Hacks

November 9, 2018
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Victims Sue AT&T, T-Mobile Over ‚SIM Swap‘ Crypto Hacks

coinnewsdaily by coinnewsdaily
November 9, 2018
in Business
0
Victims Sue AT&T, T-Mobile Over ‚SIM Swap‘ Crypto Hacks
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Silver Miller. a cryptocurrency-focused law firm based in the U.S., says it has filed arbitration claims against AT&T and T-Mobile on behalf of victims of „SIM swapping“ cellphone hacks.

Initiating the court actions on behalf of clients that have lost funds to criminals that used the increasingly common method of infiltrating mobile devices to access cryptocurrency wallets and two-factor authentication codes, the firm alleges:

Related articles

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022

„By leaving holes in their security protocols and failing to properly train and monitor their employees, cellphone providers have assisted thieves in remotely taking over the SIM cards in people’s smartphones, accessing financial records and account information of the victims, and emptying the victim’s accounts of cryptocurrency and other valuable assets.“

In a press release published Friday, Silver Miller said that one client, an AT&T customer, had had over $621,000 of cryptocurrency stolen via a SIM swap attack. The firm further alleges that the breach occurred after AT&T „had assured him it had increased security on his account following an earlier attempted hack.“

Other cases have been filed against T-Mobile, with Silver Miller alleging that two clients had been robbed of $400,000 and $250,000, respectively, via SIM swaps „permitted“ by the telcom firm.

While the service exists for legitimate reasons, such as SIM card damage or switching providers, SIM swapping can also allow criminals to arrange for a telecoms company to reassign a user’s account to another SIM, allowing full access to all calls, messages and notifications.

Silver Miller said that all it takes for a swap to be arranged „a persuasive plea for assistance, a willing telecommunications carrier representative, and an electronic impersonation of the victim.“

In a recent report from Krebs on Security, the REACT Task Force in California indicated that SIM swapping is rapidly increasing as a popular tool for hackers.

Samy Tarazi, a sergeant at the Santa Clara County Sheriff’s office and a REACT supervisor, was quoted as saying:

„For the amounts being stolen and the number of people being successful at taking it, the numbers are probably historic. We’re talking about kids aged mainly between 19 and 22 being able to steal millions of dollars in cryptocurrencies.“

SIM card image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.



Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

Blockchain-Based Global Foodservice Loyalty Space

Next Post

Carbon’s Stablecoin Can Now Be Swapped Between EOS and Ethereum

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses
Business

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

Mai 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
Load More
Next Post
Carbon’s Stablecoin Can Now Be Swapped Between EOS and Ethereum

Carbon's Stablecoin Can Now Be Swapped Between EOS and Ethereum

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev