– Crypto-based social media platform FriendTech has added the ability to switch from phone number to email due to SIM swap attacks.
– At least six FriendTech users have reported experiencing SIM swap attacks, where attackers access user accounts and liquidate their keys.
– A SIM swap attack occurs when a perpetrator convinces a telecom provider to transfer a victim’s phone number to a new SIM card under their control.
– Two incidents on October 3 resulted in a loss of 42 ETH (around $70,000), and within the last day, four more users were targeted, resulting in gains of approximately $385,000.
– Attackers can identify SIM swap victims among FriendTech users by using information from their public X accounts, which provide data that can be compared to previous data breaches to obtain phone numbers.
– This update is for informational purposes only and not intended as legal, tax, investment, financial, or other advice.
FriendTech, a crypto-based social media platform, has added the option to switch from phone number to email login to address SIM swap attacks. In recent weeks, several FriendTech users have reported being targeted by SIM swap attacks, where attackers gain control of the victim’s phone number and access their accounts. This allows the attackers to liquidate their social tokens linked to influencers on the platform. The attacks have resulted in significant losses, with over $385,000 reportedly stolen from four users. The co-founder and CEO of Zengo wallet explains that attackers can identify potential victims by leveraging information from their public X accounts. This data, combined with previous breaches, helps attackers orchestrate SIM swap attempts with telecom providers.
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