SIM Swappers Target Crypto Influencers Ahead of the Holidays
Crypto influencers are becoming targets of SIM swappers, who are taking control of their high-profile accounts on X. This includes the accounts of Manifold Trading and its founding partner, Jae Chung. Instead of regular posts, these compromised accounts are posting malicious links to crypto drainers, resulting in victims losing their funds.
Hackers Gain Access Through SIM Swaps
Chung confirmed that the hack was caused by a SIM swap, where hackers take control of your phone number by convincing the cell carrier to switch it to a SIM card in their possession. This gives them access to accounts that use that number for two-factor authentication. Farokh, founder of Rug Radio, also confirmed being SIM swapped recently.
Protecting Yourself from SIM Swap Hacks
To avoid falling victim to SIM swaps, it is recommended to use authenticator apps or security keys for two-factor authentication instead of relying on phone numbers. Blockchain investigator ZachXBT suggests that pin-protected SIMs can still be bypassed easily. Several members of the crypto community have lost millions due to SIM swaps in recent months.
Hot Take: Crypto Influencers Face Increasing Threat from SIM Swap Attacks
As the popularity and influence of crypto influencers continue to grow, they are becoming prime targets for hackers using SIM swap attacks. These attacks allow hackers to gain control of high-profile crypto accounts and deceive followers into clicking malicious links that drain their funds. The recent incidents involving Manifold Trading and Rug Radio highlight the vulnerability of crypto influencers and the need for enhanced security measures. It is crucial for both influencers and followers to be aware of the risks associated with SIM swaps and take necessary precautions such as using authenticator apps or security keys for two-factor authentication. By staying vigilant, the crypto community can protect themselves against these increasingly prevalent attacks.
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