SIM Swapping Becomes Increasingly Popular in California, Police Make It “High Priority”

On November 7, a security news and investigation blog KrebsOnSecurity published an interview with REACT Task Force, a California-based law enforcement group dedicated to fighting cybercrime. As per the article, members of REACT consider “SIM swapping” one of its “highest priorities” in a bid to fight cryptocurrency fraud. Here is how fraudsters use 99 cent SIM cards bought off eBay to steal millions worth of crypto with just one call. “SIM swapping”: what is it? SIM swapping is the process of making a telecom provider like, say, T-Mobile, transfer the…

Victims Sue AT&T, T-Mobile Over ‘SIM Swap’ Crypto Hacks

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: “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…

U.S. Law Firm Files Claims Against AT&T, T-Mobile Over SIM Swap-Enabled Crypto Thefts

  U.S. crypto investor law firm Silver Miller has filed arbitration claims against telecoms giants AT&T and T-Mobile for “SIM-swap”-related thefts, according to a press release published Nov. 8 SIM-swapping – also known as a ‘port-out scam’ – involves the theft of a cell phone number in order to hijack online financial and social media accounts, enabled by the fact that many firms  use automated messages or phone calls to handle customer authentication. According to one of the (partially redacted) Silver Miller Statement of Claim documents – filed against AT&T…

Investor Lawsuit Brought Against AT&T, T-Mobile for SIM Swapping Hacks

Leading cryptocurrency investor law firm Silver Miller Law has filed suit against cell phone giants AT&T and T-Mobile on behalf of several digital asset investors who were victims of the identity-theft tactic known as “SIM swapping.” The suit alleges that both companies possessed flaws in their security systems and failed to properly train their employees to work against hackers seeking to gain access to users’ smartphones. SIM swapping occurs when a hacker gathers information on a potential victim, such as their phone password, answers to their security questions and their…

California Cybercrime Police Focus on Cryptocurrency SIM Swapping as ‘Highest Priority’

U.S. law enforcement consider so-called “SIM swapping” one of its “highest priorities” in a bid to fight cryptocurrency fraud, security news and investigation blog KrebsonSecurity reported Nov. 7. Speaking to the publication, Samy Tarazi, a police sergeant in Santa Barbara and a supervisor of the REACT Task Force — a group dedicated to fighting cybercrime — said the number of instances of the crime had increased dramatically. “For the amounts being stolen and the number of people being successful at taking it, the numbers are probably historic,” he said. SIM…