SIM Swappers Swindle Millions — Biggest Criminal Threat in Crypto in 2019?

SIM swapping has come into the spotlight in recent months after a number of high-profile arrests.

Cryptocurrency crime trends have been in the spotlight in recent weeks, but SIM swapping has been strangely absent in a number of reports on 2018.

Cryptocurrency analytics companies CipherTrace and Chainalysis released two different reports focusing on the major crime trends in the space in 2018. While their data and findings sum up the biggest threats of the last 12 months, they’ve omitted the prevalence of SIM swapping in recent times.

How it works

SIM swapping is a relatively simple concept to understand, but the potential damage that can be done to an individual is scary, to say the least.

Cointelegraph approached multinational cybersecurity and anti-virus company Kaspersky Labs to provide an accurate definition of how SIM swapping works and the various ways in which it is carried out.

Attackers obtain…

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2019-02-12 12:58:00

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