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Young Hacker Has Stolen $50 in Crypto via SIM-swapping

In 2018, a hacker attack was made on a cryptocurrency fund, as a result of which an 18-year-old teenager from Canada, Samy Bensaci, was detained. The incident occurred in the United States, and partly Canada concerned cryptocurrency holders. The answer to this situation was the words of one of the cops. It was precisely such a group of hackers who were responsible for the theft of “$ 50 million from our neighbors in the south and $ 300,000 in Canada.”

And quite recently, it became known that this particular guy is accused of fraud in fraud associated with the exchange of SIM cards for $ 50 million, which belonged to the owners of cryptocurrencies.

Maybe it would not have been made so public if the renowned Canadian cryptographers and co-authors of the book Don and Alex Tapscott did not become victims(which is definitely not approved)

Don Tapscott also stated by himself that he had suffered from such a scheme. However, at the same time, claiming that he was flattered by such a quick reaction and the actions of law enforcement agencies. As a conclusion, authorities stated the charge that a cracker was trying to steal digital assets in their company That did not succeed.

Returning to the notorious hacker Samy Bensaci, he was already arrested for his atrocities in British Columbia in 2019, regardless of this, he was exempted on bail the following month (whose bail amounted to $ 153,000). But despite the pledge, he nevertheless underwent minor sanctions in the form of a digital devices ban. Moreover, this list even included game consoles, and of course, the cryptocurrency ownership.

Rob Ross, who is also a victim of the same situation with SIM-card swaps, it became known that hackers found their victims during the Consensus conference in New York. After independent analysis, it was precisely those people who attended the event in the states who became the target for this scam.

What is SIM-swapping?

An attack with SIM cards is not really such a big labor and precious resource, and this happens when you can simply deceive the telecommunications company into transferring the phone number of the alleged victim to the attacker’s SIM card. You can even perform such an operation by merely impersonating a victim and contacting the telecommunications sector support service. 

And so, thanks to the replacement of the SIM card, it will not be difficult for scammers to circumvent authentication and password recovery mechanisms that are directly related to phone numbers.Such cases are not unique, and the media have already noted similar situations.