Friend.tech Users Fall Victim to Phishing and SIM Swapping Attacks
Users of the web3 social earnings platform Friend.tech have reported multiple incidents of phishing and SIM swapping attacks. Just like traditional Web2 platforms, this newly launched crypto social media platform has become a target for scammers.
On October 3, several users reported that they were victims of crypto theft resulting from SIM swap attacks. One user, who had 22 ETH stolen, mentioned that their personal information, including their phone number from their X (Twitter) account, was accessed by scammers. They also sold their keys, leading to the draining of their wallet.
Another victim experienced a similar situation, with 20+ ETH being drained from their Friend.tech account due to a SIM swap attack. Additionally, a third user reported that their Friend.tech account was compromised, with the hacker dumping all keys and transferring the funds to another address.
Risks Faced by Friend.tech Users
If attackers manage to gain access to a Friend.tech account through a SIM swap or email phishing attack, they can completely drain the account. Manifold Trading estimated that around $20 million is at risk from SIM swaps if one-third of Friend.tech accounts are connected to phone numbers.
Currently, the platform does not offer two-factor authentication (2FA) as a security measure. Therefore, it is recommended for users to stay vigilant and be cautious of potential phishing attempts or SIM swap attacks.
X (Twitter) Users Also at Risk
Recent phishing and SIM swapping attacks have not only targeted Friend.tech users but also X users. Experts have advised X to implement two-factor authentication (2FA) security measures to prevent the leakage of phone details. Notably, high-profile individuals like Vitalik Buterin and Mark Cuban have also fallen victim to SIM swap attacks.
In August, Bart Stephens, co-founder of Blockchain Capital, filed a lawsuit against a hacker who stole $6.3 million through a similar attack. Last month, billionaire Mark Cuban had approximately $870,000 in crypto stolen due to a wallet hack.
Scammers employ SIM swap attacks as a method to take control of victims’ mobile phone numbers. With control over the number, they can bypass 2FA and gain access to social media and crypto accounts.
Hot Take: Protect Yourself from Phishing and SIM Swapping Attacks
As the popularity of crypto platforms continues to rise, it’s crucial to remain cautious and protect your digital assets from phishing and SIM swapping attacks. Stay informed about the latest security measures implemented by platforms like Friend.tech and X, and be proactive in safeguarding your personal information. Enable two-factor authentication whenever possible and keep an eye out for suspicious activities or unusual requests for sensitive information.
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