The crypto world has an unflattering history with security breaches and today, hacker groups are unabating in targeting investors and exchanges. So far this year, tens of millions of dollars in digital coins have been stolen from retail investors and holders.
Although the situation is foreboding, the authorities and cryptocurrency trading platforms are getting better at stopping cybercriminals and thwarting hacking attempts.
Hackers Aged Between 18 and 26 Arrested for Stealing over $50 Million in Crypto
A recent New York Post report has revealed that crypto investors have become easy targets for cybercriminals due to a combination of social engineering and digital identity stealing techniques.
It highlights that SIM swapping has become a preferred mode of operation among a younger generation of social media and crypto hackers. Cryptocurrency investor Michael Terpin recently fell victim to such a scheme after his digital identity got changed remotely.
A hacker syndicate was able to switch his SIM to a blank that was under their…