How SIM swap attacks are draining crypto wallets
Vigilance is often touted as the first line of defense in the world of crypto. But for many, even the most guarded practices can falter in the face of emerging threats. Consider one unsettling story of a crypto investor who became a victim during a routine red-eye flight.
Minutes after he boarded, his phone went dark — a typical indicator of signal loss mid-air. But this time, there was something more sinister at play. By the time he landed, his crypto wallet had been drained, and he discovered that someone, taking advantage of his time offline, had hijacked his phone number to gain control of his crypto exchange account.
SIM swap scams, as they’re commonly called, have gained traction in recent years, quietly preying…
