{"id":384764,"date":"2019-06-04T02:30:28","date_gmt":"2019-06-04T02:30:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=384764"},"modified":"2024-06-11T13:43:46","modified_gmt":"2024-06-11T13:43:46","slug":"15-crypto-community-members-targeted-as-sim-port-hack-trend-spikes","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/15-crypto-community-members-targeted-as-sim-port-hack-trend-spikes\/","title":{"rendered":"15 Crypto Community Members Targeted As SIM-Port Hack Trend Spikes"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Last week, <a href=\"https:\/\/ktsl888.com\/2019\/06\/01\/why-all-bitcoin-and-crypto-investors-should-consider-u2f-security-keys\/\">NewsBTC put a spotlight on the increasing need for account security for crypto investors<\/a>, due to an emerging trend of SIM-port hacks that have resulted in investors having their accounts completely drained by cyber criminals. These cyber criminals gain access to a crypto investor\u2019s phone number with the goal of intercepting SMS-based authentication codes that will allow the hackers easy entry into the investor\u2019s sensitive accounts, such as personal email accounts, or even direct access to crypto exchanges themselves where assets are held.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Since then, reports of an additional 15 more crypto community members have been targeted in <a href=\"https:\/\/ktsl888.com\/2018\/11\/22\/silicon-valley-execs-targeted-in-sim-swap-hacking-1-million-in-crypto-stolen\/\">like-cases of SIM-port hacks<\/a>, demonstrating how this emerging trend is rapidly becoming a major threat for all crypto investors.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">More Crypto Investors Fall Victim to Growing SIM-Port Hack Crime Spree<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">According to Andrew Kang, co-founder of MinerUpdate and a new crypto startup called Stealth, he and 15 other members of the cryptocurrency community have fallen victim to a SIM-port hack.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Sim Swapped. Phone number ported. Thanks <a href=\"https:\/\/twitter.com\/TMobile?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@TMobile<\/a> <\/p>\n<p>That\u2019s at least 15 of us in the crypto community in the last week.<\/p>\n<p>&mdash; Andrew Kang (@Rewkang) <a href=\"https:\/\/twitter.com\/Rewkang\/status\/59693569?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 1, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">In most cases, these hacks result in a crypto investor\u2019s accounts being wiped out. In Kang\u2019s case, no losses have been reported and according to the former venture capitalist the hackers were only able to access a Telegram account due to his reliance on authenticator-based two-factor authentication instead of the SMS-based authentication the hackers had been targeting.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/2019\/01\/23\/google-security-crypto-cyber-criminals\/\" data-wpel-link=\"internal\">Google U2F Security Expert: Crypto is Like Catnip for Cyber Criminals<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Hackers pose as an individual, claiming to be reporting a lost or stolen phone. The hackers are then able to gain control of the individual\u2019s phone number, and use it to <a href=\"https:\/\/ktsl888.com\/2018\/11\/22\/silicon-valley-execs-targeted-in-sim-swap-hacking-1-million-in-crypto-stolen\/\">intercept SMS-based text messages<\/a> containing sensitive account authentication codes. These codes area then used to gain entry into the individual\u2019s Gmail account or other accounts, which are often tied to more sensitive accounts such as bank accounts or cryptocurrency exchanges.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In Kang\u2019s case, having either Google Authenticator or Authy set up may have prevented him from experiencing any loss related to crypto assets he had stored on an exchange or web wallet. Others in recent reports haven\u2019t been so lucky, as was the case with Sean Coonce, Engineering Leadership at BitGo, <a href=\"https:\/\/ktsl888.com\/2019\/06\/01\/why-all-bitcoin-and-crypto-investors-should-consider-u2f-security-keys\/\">who published a story about how he learned the most expensive lesson of his life<\/a> by not taking further precautionary steps to secure his crypto assets.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Interestingly, Kang and others who were affected in this latest string of attacks claim to have had \u201cspecial instructions\u201d in place on their <a href=\"https:\/\/www.t-mobile.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">T-Mobil<\/a>e accounts \u2013 instructions that were clearly ignored by company employees who were either negligent or working in cooperation with the hackers, as some crypto community conspiracy theorists suspect.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/2018\/09\/18\/pro-league-of-legends-gamer-robbed-of-200k-in-crypto-in-sim-hack\/\" data-wpel-link=\"internal\">Pro League of Legends Gamer Robbed of $200K in Crypto in Sim-Hack<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">This past week, <a href=\"https:\/\/ktsl888.com\/2019\/06\/01\/why-all-bitcoin-and-crypto-investors-should-consider-u2f-security-keys\/\">Coinbase enabled support for U2F<\/a> (Universal 2nd Factor) <a href=\"https:\/\/ktsl888.com\/2019\/01\/23\/google-security-crypto-cyber-criminals\/\">security keys<\/a> that add an additional layer of protection by requiring the physical key be in the account holder\u2019s possession at the time of login. This prevents any hackers from illegally gaining access, and such an extra step will do away with any risk of SIM-port attacks and is a step all crypto investors should consider taking as this trend continues to grow.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week, NewsBTC put a spotlight on the increasing need for account security for crypto investors, due to an emerging trend of SIM-port hacks that have resulted in investors having their accounts completely drained by cyber criminals. These cyber criminals gain access to a crypto investor\u2019s phone number with the goal of intercepting SMS-based authentication codes that will allow the hackers easy entry into the investor\u2019s sensitive accounts, such as personal email accounts, or even direct access to crypto exchanges themselves where assets are held. Since then, reports of an additional 15 more crypto community members have been targeted in like-cases of SIM-port hacks, demonstrating how this emerging trend is rapidly becoming a major threat for all crypto investors. More Crypto Investors Fall Victim to Growing SIM-Port Hack Crime Spree According to Andrew Kang, co-founder of MinerUpdate and a new crypto startup called Stealth, he and 15 other members of the cryptocurrency community have fallen victim to a SIM-port hack. Sim Swapped. Phone number ported. Thanks @TMobile That\u2019s at least 15 of us in the crypto community in the last week. &mdash; Andrew Kang (@Rewkang) June 1, 2019 In most cases, these hacks result in a crypto investor\u2019s accounts being wiped out. In Kang\u2019s case, no losses have been reported and according to the former venture capitalist the hackers were only able to access a Telegram account due to his reliance on authenticator-based two-factor authentication instead of the SMS-based authentication the hackers had been targeting. Related Reading |\u00a0Google U2F Security Expert: Crypto is Like Catnip for Cyber Criminals Hackers pose as an individual, claiming to be reporting a lost or stolen phone. The hackers are then able to gain control of the individual\u2019s phone number, and use it to intercept SMS-based text messages containing sensitive account authentication codes. These codes area then used to gain entry into the individual\u2019s Gmail account or other accounts, which are often tied to more sensitive accounts such as bank accounts or cryptocurrency exchanges. In Kang\u2019s case, having either Google Authenticator or Authy set up may have prevented him from experiencing any loss related to crypto assets he had stored on an exchange or web wallet. Others in recent reports haven\u2019t been so lucky, as was the case with Sean Coonce, Engineering Leadership at BitGo, who published a story about how he learned the most expensive lesson of his life by not taking further precautionary steps to secure his crypto assets. Interestingly, Kang and others who were affected in this latest string of attacks claim to have had \u201cspecial instructions\u201d in place on their T-Mobile accounts \u2013 instructions that were clearly ignored by company employees who were either negligent or working in cooperation with the hackers, as some crypto community conspiracy theorists suspect. Related Reading |\u00a0Pro League of Legends Gamer Robbed of $200K in Crypto in Sim-Hack This past week, Coinbase enabled support for U2F (Universal 2nd Factor) security keys that add an additional layer of protection by requiring the physical key be in the account holder\u2019s possession at the time of login. This prevents any hackers from illegally gaining access, and such an extra step will do away with any risk of SIM-port attacks and is a step all crypto investors should consider taking as this trend continues to grow.<\/p>\n","protected":false},"author":517,"featured_media":384766,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[35,42495,428,6664,42496,42494,42244],"class_list":["post-384764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-2fa","tag-andrew-kang","tag-bitcoin","tag-crypto","tag-security-key","tag-sim-port-hack","tag-u2f"],"acf":[],"yoast_head":"\n<title>15 Crypto Community Members Targeted As SIM-Port Hack Trend Spikes<\/title>\n<meta name=\"description\" content=\"Last week, NewsBTC put a spotlight on the increasing need for account security for crypto investors, due to an emerging trend of SIM-port hacks that have\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/15-crypto-community-members-targeted-as-sim-port-hack-trend-spikes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"15 Crypto Community Members Targeted As SIM-Port Hack Trend Spikes\" \/>\n<meta property=\"og:description\" content=\"Last week, NewsBTC put a spotlight on the increasing need for account security for crypto investors, due to an emerging trend of SIM-port hacks that have\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/15-crypto-community-members-targeted-as-sim-port-hack-trend-spikes\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-04T02:30:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:43:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/06\/bitcoin-crypto-sim-port-hack-t-mobile-shutterstock_1199855767-e63.jpg?fit=3000%2C2000\" \/>\n\t<meta property=\"og:image:width\" content=\"3000\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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