Friend.tech Users Targeted in $385K SIM-Swap Scam
A crafty scammer has reportedly swiped nearly $385,000 in Ether (ETH) within a day, exploiting a rash of SIM-swap attacks focused on Friend.tech users.
Blockchain detective ZachXBT identified on Oct. 5 that a single hacker had stolen 234 ETH within one day, targeting four Friend.tech users through SIM-swapping.
Observing the crypto assets' on-chain activity linked all thefts back to this one individual. During the attack, "KingMgugga", a user, shared the live distress of witnessing the SIM-swap, pleading for assistance on platform X. Another X user, "holycryptoroni," also reported a similar attack, expressing regret over their compromised account.
Earlier in the week, another four Friend.tech users reported a loss of around 109 ETH due to either SIM-swapping or phishing.
Friend.tech lets users buy "keys" to private chat rooms with specific individuals. In a SIM-swap scam, criminals hijack the victim's phone number to bypass authentication, giving them access to the victim's crypto and social media accounts.
Manifold Trading, a company creating tools for the crypto space, gauged that nearly $20 million of Friend.tech’s total value of $50 million might be vulnerable. They urged Friend.tech to reinforce its security by integrating two-factor authentication (2FA).
The recent high-profile SIM-swap breach of Vitalik Buterin's account in September has also spurred calls for platform X to adopt 2FA. For added security, “0xfoobar,” the head of wallet security company Delegate, recommended that users delete phone numbers from their social media profiles.
Loading Comments ...
Comments
No comments have been added for this post.
Sorry. Comments are frozen for this article. If you have a question or comment that relates to this article, please post it in the appropriate forum.