Security News > 2021 > February > Celeb SIM-Swap Crime Ring Stole $100M from U.S. Victims

"The attacks orchestrated by this criminal gang targeted thousands of victims throughout 2020, including famous internet influencers, sport stars, musicians and their families," according to an alert from the organization.

In a typical SIM-swapping attack, attackers use stolen, sleuthed or phished personal information - including, crucially, a person's mobile phone number - to impersonate a target.

They contact the victim's mobile carrier - easily discovered with an online search - and ask to port the line to a different SIM card/device, one controlled by the attackers.

T-Mobile USA last summer was the victim of a major SIM-swapping fraud attack, which enabled hackers to bypass two-factor authentication and steal cryptocurrency from various victims.

"This network targeted a large number of victims in the US and regularly attacked those they believed would be lucrative targets, such as famous sports stars and musicians. In this case, those arrested face prosecution for offences under the Computer Misuse Act, as well as fraud and money laundering as well as extradition to the U.S. for prosecution."

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News URL

https://threatpost.com/celeb-sim-swap-crime-ring-100m/163888/