Crypto

SIM card scam: a teenager steals 32 million euros from a user

Scam: A young Canadian man from Hamilton managed to steal no less than $ 36.5 million in cryptocurrency from a person with a simple SIM card scam. Don’t worry, we tell you this crazy story. By reading our article, you will know everything about the subject. Are you ready ?

Scam: a well crafted scam

It is an incredible story that we are going to tell you. In March 2020, the Hamilton Police launched a joint investigation with the US Secret Service specializing in electronic crime. The investigation focused on the theft of cryptocurrencies from a victim located in the United States. In fact, the latter was the target of an attack when exchanging a SIM card. What exactly does it consist of? Well, we will tell you. Criminals take control of their target’s SIM card after asking their operator for a second.

And to achieve this, scammers use phishing attacks to collect as much information as possible about their targets. With this data, they can request a new SIM card from the operator and receive, among other things, the codes used in two-factor authentication by SMS. Once the victim’s communications were diverted, he was able to access the codes used in two-factor authentication by SMS. This is how the criminal managed to hijack the victim’s digital wallet.

32 million euros stolen

To say the least, the victim’s wallet was well stocked. In fact, the criminal managed to embezzle no less than 46 million Canadian dollars in cryptocurrencies (32 million euros). Currently, it is the largest crypto theft ever reported by anyone. The joint investigation later revealed that some of the stolen cryptocurrency was used to purchase a rare username online in a multiplayer video game. This transaction allowed investigators to trace back to the holder of this “premium” identifier.

It turns out that he is a simple teenager. Therefore, he was arrested on November 17 for robbery and cover-up and will be brought to justice. The young man was arrested for theft of more than $ 5,000 and possession of property obtained through a crime. According to the statement from the FBI and Hamilton Police, authorities have yet to trace most of the funds. In fact, they simply announce that they have made multiple seizures totaling C $ 7 million. So far from 46 million.

Tips to avoid this scam

While waiting for effective measures to be implemented, it is necessary to remain vigilant and forget the codes by SMS. If you ever need the codes, security experts recommend everyone to download an authenticator on their smartphone, such as Microsoft Authenticator or Google Authenticator, which acts as a safe for all accounts online with A2F. Feel free to ask your mobile operator if it is possible to use an additional password for any SIM card change.

Also, be sure to remove your phone number from any account that may be of interest to hackers. To protect your data from prying eyes and malicious attacks, be sure to use a firewall as much as possible. Or antivirus software on your computer or on your smartphone. Avoid browsing questionable sites and downloading suspicious files. Easy right?

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