Cryptocurrency users around the globe face many different threats. SIM Swaps are perhaps the worst type of attack, yet they continue to occur on a regular basis.
Anyone keeping bitcoin or altcoins on an exchange would be better off using a hardware wallet of some sorts.
Another SIM Swap Story Pops up
Users who rely on exchanges or online wallets are more prone to get targeted by a SIM swap attack.
On Reddit, a new post has surfaced documenting such an incident.
The Coinbase user in question had his account drained once criminals managed to bypass his two-factor authentication security.
It does not take too long for criminals to steal one’s mobile phone number either.
In a span of a few minutes one can go from losing access to their phone number to having their exchange account drained.
With a 2FA bypass in hand, criminals can easily bypass account security, reset passwords, and even change email addresses without any recourse.
This appears to be something that affects Coinbase users on a regular basis.
That is one of the most…