Two Massachusetts men arrested today for Conducting Nationwide SIM-swapping attack to gain login credentials of victims by resetting their login credentials.
Once they got login credentials they gain control over the account and in some cases, they even steal the cryptocurrencies.
SIM swapping or SIM Hijacking is a targeted attack conducted by criminals to register an already existing number on a new SIM card, so they can intercept the OTPs and can reset the login credentials.
Two defendants Eric Meiggs, 21, of Brockton, Massachusetts, and Declan Harrington, 20, of Rockport, Massachusetts were charged 11 counts indictment. Eight counts for wire fraud, one count for abuse fraud, one count for computer fraud and one count for identity theft.
Meiggs and Harrington particularly targeted the executives of cryptocurrency companies and the social media accounts of those who have high value or the name contain OG(“Original Gangster”).
According to the indictment, cybercriminals convince a victim’s SIM card provider to reassign the victim’s cell phone number to a different SIM card that controlled by cybercriminals.
The two cybercriminals found to be targeted more than 10 victims and they attempted to steal more than $550,000 in the form of cryptocurrencies. Eric Meiggs gained control over several social media profiles with OG.
“The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law,” reads the statement.
This is not the first time sim-swapping hackers are arrested, earlier a 21-year-old man, Nicholas Truglia, charged for hacking into the phones of Silicon Valley executive phones to steal their cryptocurrency and a SIM Swapping Hacker Group who steals $80,000 worth of cryptocurrency got arrested by Turkish police.