This announcement has led to some users claiming that these hacks are the results of an inside job or malicious Twitter employee. From what officials of the token are saying, a Twitter employee was social engineered into changing JRNYclub’s password. Although their Twitter account was hacked, this was not identified as a “SIM swapping” attack but more of a targeted social engineering hack. JRNYclub’s Twitter account was compromised on June 28th, 2022 for ~$82k by an account detected as Stolen NFTs from JRNY are being sent to 0x003099. Recently, JRNYclub and NonsDAO were recent victims of Twitter hacks. Yes, you might have 2FA, or a security key on your account, but on most providers anyone logging in has the option of choosing ANY of the options you have enabled, including SMS. This can be accomplished with basic personal info about a target, or even with just the last 4 of your SSN in some cases. How Does This Happen:Īn attacker will contact your mobile phone service provider and convince them to switch your phone number over to a sim card they control. Finally, phishing is one of the most popular techniques where criminals deceive mobile carrier employees into downloading malware that allows the thieves to hack mobile carrier systems and perform SIM swaps. A threat actor can also pay off someone working at a mobile provider to switch the phone number to the attacker’s SIM card (aka insider threat). Social engineering is one of those methods used where a threat actor impersonates you and fools your mobile carrier into switching your phone number to a SIM card owned by the criminal. Social engineering is one of those methods used where a threat actor impersonates you. Sim swapping hackers use different methods to target mobile carriers and gain access to sensitive information on your phone. That’s around an 80% success rate and therefore easily done, and hard to detect. In 2020, researchers at Princeton University found that out of 50 attempts to do a fake sim swap, 39 of them were successful.
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“SIM Swapping” is a malicious attack targeting your mobile carrier that allows the attacker to gain control of your phone number in order to intercept any 2-step authentication or verification codes that may be sent via SMS text. The FBI is warning users that threat actors are using Sim Swapping to rob people of millions of dollars by stealing money from fiat and virtual currency accounts.
Recently, Twitter has seen an increase in hacks through a “SIM Swapping” process. However, Twitter has not been mentioned by the FTC in their report and the social media platform is riddled with scam accounts, bots, & hacks. Telegram, Whatsapp, Instagram & Facebook are listed by The FTC as Social Media apps with high volumes of Crypto Theft.
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