Security News > 2023 > August > Lapsus$ hackers took SIM-swapping attacks to the next level

The U.S. government released a report after analyzing simple techniques, e.g. SIM swapping, used by the Lapsus$ extortion group to breach dozens of organizations with a strong security posture.

The group used SIM swapping to gain access to a target company's internal network and steal confidential information like source code, details about proprietary technology, or business and customer-related documents.

In a SIM-swapping attack, the threat actor steals the victim's phone number by porting it to a SIM card owned by the attacker.

During the research, CSRB's findings, the group paid as much as $20,000 per week to access a telecommunications provider's platform and perform SIM swaps.

While Lapsus$ was characterized by effectiveness, speed, creativity, and boldness, the group was not always successful in its attacks.

Despite security researchers and experts decrying for years the use of SMS-based authentication as insecure, DHS' Cyber Safety Review Board highlights that "Most organizations were not prepared to prevent" the attacks from Lapsus$ or other groups employing similar tactics.

News URL

https://www.bleepingcomputer.com/news/security/lapsus-hackers-took-sim-swapping-attacks-to-the-next-level/