Tuesday, May 28, 2024

SIM Swapping Hacker Group Who Managed to Steal $80,000 Worth of Cryptocurrency Got Arrested

SIM Swapping Hacker Group who steals $80,000 worth of cryptocurrency got arrested by Turkish police.

Eleven individuals were arrested in the question of tricking the network providers to issue SIM card of victim’s phone number to them.

SIM swapping or SIM Hijacking is the technique used 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.

By having control over the phone number attackers can bypass 2FA authentication and reset the passwords to gain access to the victim’s accounts.

According to Trustnodes, the Sim Swapping Hacker Group prepared fake IDs pretending to be the victim and managed to convince Mobile network providers to issue new SIM for the same number and to get the real owner’s SIM canceled.

By using this method the hacker group steals $80,000 worth of cryptocurrency and the police tracked the hacker group based on the IP addresses used to access the crypto exchanges.

Authorities raided to their premises and they found 18 mobile phones, 20 flash memory drives, 5 laptops, 3 disks, 2 fake driver’s licenses, and many fake IDs and cards.

The ease with which these thieves were able to gain access to someone else’s phone number, however, is highly concerning. Raising basic questions such as why are claimed lost sim replacements being sent to addresses, not on record. reads trustnodes report.

The SIM Swapping attacks are in the raise, anyone can fall prey to it, last July Motherboard reported a hacking group that Stolen $5 Million Through SIM Swapping Hacks.

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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.

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