Friend.tech Users Warned of SIM-Swap Attacks
Friend.tech users are being cautioned about the possibility of SIM-swap attacks following a recent series of alleged hacks. In less than a week, four users had nearly 109 Ether (ETH) drained from their accounts, totaling around $178,000.
First Hack and Subsequent Incidents
On September 30th, a Friend.tech user named “froggie.eth” reported being SIM-swapped and losing over 20 ETH. This type of attack involves taking control of a user’s mobile number to intercept two-factor authentication codes. Similar incidents were reported on October 3rd, with musician Daren Broxmeyer losing 22 ETH after his phone was spammed with calls to distract him from receiving a warning message about unauthorized account access.
Phishing Scams and Exploits
Another user named “dipper” claimed their account was compromised despite using strong passwords. The fourth user, “digging4doge,” fell victim to a phishing scam and lost approximately 60 ETH after sharing a login code.
Potential Risk to Friend.tech Accounts
Crypto investment firm Manifold Trading warned that hackers who gain access to a Friend.tech account can “rug the whole account.” They estimated that around $20 million is at risk if one-third of Friend.tech accounts are connected to phone numbers. Manifold emphasized the urgency in addressing these security issues as a top priority.
Suggestions for Enhanced Security
To improve security, Manifold proposed adding two-factor authentication (2FA) for logins, key decryptions, and transactions on Friend.tech. They also recommended allowing users to change their login method from a phone number to email and enabling the use of third-party wallets.
Previous SIM-Swap Attacks on Crypto Figures
High-profile figures in the crypto industry, including Ethereum co-founder Vitalik Buterin, have fallen victim to SIM-swap attacks in the past. These attacks have been used to carry out phishing attempts and other malicious activities.
Hot Take: Protecting Your Crypto Assets
As the popularity of cryptocurrencies continues to grow, it is crucial to prioritize the security of your digital assets. Stay vigilant against potential SIM-swap attacks by implementing strong passwords, enabling 2FA whenever possible, and regularly monitoring your accounts for any suspicious activity. Additionally, consider using reputable platforms and wallets that prioritize user security and offer robust protection measures.
Coinan Porter stands as a notable crypto analyst, accomplished researcher, and adept editor, carving a significant niche in the realm of cryptocurrency. As a skilled crypto analyst and researcher, Coinan’s insights delve deep into the intricacies of digital assets, resonating with a wide audience. His analytical prowess is complemented by his editorial finesse, allowing him to transform complex crypto information into digestible formats. Coinan’s contributions serve as a valuable resource for both seasoned enthusiasts and newcomers, guiding them through the dynamic landscape of cryptocurrencies with well-researched perspectives. With meticulous attention to detail, he empowers informed decision-making in the ever-evolving crypto sphere.
