Sunday, July 21, 2024
EHA

Europol Arrested 10 SIM Swapping Hackers for Stealing Over USD 100 Million in Cryptocurrencies

Sports stars, musicians, internet influencers. Wondering what they have in common apart from their lavish lifestyles? Well, they have had more than 100 million USD worth of cryptocurrency stolen from them, after hackers had illegally gained access to their phones.

Thousands of victims have been targeted by these attackers throughout 2020. Investigations were carried out by law enforcement agencies of the UK, USA, Belgium, Malta, Canada, and Europol. The investigations culminated in the arrests of 8 cybersecurity criminals.

A dozen criminals had joined forces to access the victims’ phone numbers and take control of the apps installed on their phones, and social media accounts by changing the passwords. The hackers also posted dubious and fraudulent messages from the victims’ social media accounts.

This type of hacking is known as “Sim Swapping”. This method of hacking has recently gained prominence.  The cybercriminal takes over the mobile device of the victim by deactivating the victim’s SIM card and then they port the number to a SIM belonging to a fellow cybercriminal. 

This type of hacking involves colluding with an insider from a phone service company or by using social engineering techniques.

Europol had played a key role in unearthing the activities of the criminals and nabbing them. Europol’s European Cybercrime Center (EC3), supported the case from the onset by:

  1. Organising operational meetings to coordinate the international activity
  2. Facilitating the information exchange between all partners and cross-checking data sent in by the partners against Europol’s databases;
  3. Supporting the action day by setting up a Virtual Command Post to provide to the investigators in the field real time and secure exchange of information and analytical support. 

Tips to protect oneself from hackers

Nobody is safe from the grasp of the cybercriminals. Anyone anywhere can be a victim of hacking. However, we must be prudent and take all measures to safeguard ourselves. Some of the ways to do that are:

  1. Update your devices’ software to the latest version
  2. Do not share personal information online
  3. Do not link your phone number with sensitive and confidential online accounts
  4. Use 2FA (two-factor) authentication for all your online services, instead of opting for an OTP/ authentication code over SMS
  5. Never respond to suspicious emails or phone calls asking for personal information

There have been several instances of people being victimized through Sim Swapping. Let’s hope that none of us are affected by this, and we stay safe.

You can follow us on LinkedinTwitterFacebook for daily Cybersecurity and hacking news updates.

Website

Latest articles

Hackers Claiming Dettol Data Breach: 453,646 users Impacted

A significant data breach has been reported by a threat actor known as 'Hana,'...

CrowdStrike Update Triggers Widespread Windows BSOD Crashes

A recent update from cybersecurity firm CrowdStrike has caused significant disruptions for Windows users,...

Operation Spincaster Disrupts Approval Phishing Technique that Drains Victim’s Wallets

Chainalysis has launched Operation Spincaster, an initiative to disrupt approval phishing scams that have...

Octo Tempest Know for Attacking VMWare ESXi Servers Added RansomHub & Qilin to Its Arsenal

Threat actors often attack VMware ESXi servers since they accommodate many virtual machines, which...

TAG-100 Actors Using Open-Source Tools To Attack Gov & Private Orgs

Hackers exploit open-source tools to execute attacks because they are readily available, well-documented, and...

macOS Users Beware Of Weaponized Meeting App From North Korean Hackers

Meeting apps are often targeted and turned into weapons by hackers as they are...

Hackers Exploiting Legitimate RMM Tools With BugSleep Malware

Since October 2023, MuddyWater, which is an Iranian threat group linked to MOIS, has...
Guru baran
Guru baranhttps://gbhackers.com
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

Free Webinar

Low Rate DDoS Attack

9 of 10 sites on the AppTrana network have faced a DDoS attack in the last 30 days.
Some DDoS attacks could readily be blocked by rate-limiting, IP reputation checks and other basic mitigation methods.
More than 50% of the DDoS attacks are employing botnets to send slow DDoS attacks where millions of IPs are being employed to send one or two requests per minute..
Key takeaways include:

  • The mechanics of a low-DDoS attack
  • Fundamentals of behavioural AI and rate-limiting
  • Surgical mitigation actions to minimize false positives
  • Role of managed services in DDoS monitoring

Related Articles