The America Federal Bureau of Investigation (FBI) issued Associate in Nursing industry-wide warning in the week of potential attacks on exchanges and crypto holders. confiscate these assets, resulting in financial loss. Sim swapping, account theft, and technical support workers are the means that to hold out these attacks.
FBI Awaits Cryptocurrency Attacks
The Federal Bureau of Investigation last week warned of close attacks on cryptocurrency exchanges and holders. The alert was broadcast victimisation the TLP protocol to distribute the specified data to specific groups.
The FBI enables peers and partner organizations in the crypto community to share this information.
The law enforcement agency says there are teams that are actively following vulnerabilities in these corporations so as to require action. Explain that these groups use a variety of techniques to accomplish these resources. These techniques include sim trading, tech support fraud, and account theft. contains some recommendations for institutions to protect their holdings: Keep an eye on incoming emails and monitor accounts for unusual movements.
The FBI advises crypto owners to always use two-factor authentication and to be aware of the information they share on social media.However, it is very difficult to avoid sim swapping attacks.
Sim Swap Attacks are difficult to fight because they are relatively easy to carry out. The attacker just needs to get the potential victim’s phone number. These attackers then proceed in two different ways: One is identity theft with attackers deceiving technology representatives into believing that the person concerned has lost or damaged the SIM card. This prompts them to give the attacker a new SIM card.
The other vector contains internal contacts at a telephone provider, the attacker uses this contact to get a new Sim with the number of the potential victim, which allows him access from the exchanges, even if it is a kind of multifactor authentication defense in it The FBI has already warned of these dangers.
Some high profile sim swapping cases were in the public eye: Michael Terpin, a blockchain investor, sued ATandT for $ 200 million in negligence damage after suffering a sin swap attack in 2020. A The judge ultimately dismissed the lawsuit. but put Sims and cryptocurrency exchanges in the public eye. In addition, Europol thwarted a sim trading operation in which cryptocurrencies worth more than $ 100 were stolen last February.