![]() ![]() The hackers have your phone number, security pin (most likely provided by inside employees), name, address, etc. If you were a victim of an unauthorized port-out of your Straight Talk number, forget your old phone number and immediately re-focus all your energy on locking down your financial assets. Cryptocurrency, in fact, is one of the primary targets of SIM swapping thieves." ![]() To perpetrate the theft, the cellphone service provider allows an unauthorized person access to a wireless telephone account without the knowledge of the account holder. In several instances, SIM swap thieves have invaded victims’ bank accounts and stolen assets like cryptocurrency. “SIM swapping” (also known as “SIM hijacking”) is a form of identity theft in the telecommunications world that requires little more than a thorough Google search, a willing telecommunications carrier representative, and an electronic or in-person impersonation of the victim. The following Sim swapping description is borrowed from an online Legal site This was a crash course for me in Sim-swapping and back-door exploitation of the widely used and trusted two-factor authentication protocol used by most financial institutions (even though they all are aware of this protocol's back-door security issues). ![]() Another $1K was illegally transferred from my bank to Coinbase via the linked accounts. Little did I know that this was a precursor to the imminent theft of my identity and $24K from my Coinbase Crypto account. 9am, I lost my Straight Talk cell phone service. ![]()
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