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.
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