![]() ![]() And in many of these accounts having control of the phone number associated with them means you can activate the recovery mechanisms which will reset passwords and give the attacker access. ![]() Just think of how many accounts use your phone number as a way to verify your identity. ![]() Not only can they access them, but they may also be able to lock you out of those accounts forever. With all of that access and information, the attacker is now able to get access to your personal accounts, including email, social media, bank accounts, and in many cases your cryptocurrency accounts and wallets. The cell provider thinks you’ve gotten a new phone, but really the hacker is stealing your mobile phone number and associating it with a SIM card that they control.Ī successful attack will cause your own device to deactivate, and all your data, phone calls, texts, and any information from accounts tied to your phone number will be sent to the attacker’s phone. SIM swapping is when a hacker is able to fool your cell phone provider into believing they are speaking with you and then, instructing them to activate your SIM card on a new device. In this article, you’ll learn how to protect your digital currency accounts from this type of attack. Fortunately, there are ways to reduce the likelihood of a SIM swap happening to you. Not only can attackers drain cryptocurrency holdings once the SIM swap is complete, they are also able to mess up your entire life. There’s a new cyberattack, called SIM swapping, that’s being used increasingly to target digital asset holders. ![]()
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