California Cybercrime Police Focus on Cryptocurrency SIM Swapping as ‘Highest Priority’

Stealing crypto through hijacked SIM cards is firmly on the radar of the U.S. REACT Task Force.

U.S. law enforcement consider so-called “SIM swapping” one of its “highest priorities” in a bid to fight cryptocurrency fraud, security news and investigation blog KrebsonSecurity reported Nov. 7.

Speaking to the publication, Samy Tarazi, a police sergeant in Santa Barbara and a supervisor of the REACT Task Force — a group dedicated to fighting cybercrime — said the number of instances of the crime had increased dramatically.

“For the amounts being stolen and the number of people being successful at taking it, the numbers are probably historic,” he said.

SIM swapping refers to the act of remotely hijacking the SIM card in a mobile device — for example by gaining access to an operator’s customer database as in one high-profile example involving millions of dollars — and using the resulting control over the…

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2018-11-07 09:23:00

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