News - users lose $385,000 through SIM swap attacks

By Luc Vesters users lose $385,000 through SIM swap attacks

As reported today by on-chain analyst ZachXBT, cybercriminals have stolen 234 Ether ($385,000) from users over the past 24 hours via SIM swap attacks.

In SIM swapping, fraudsters take control of a phone number by assigning it to a new SIM card that only they have access to. This gives the attackers access to their victims' social media and crypto accounts.

On Twitter, the cases of users reporting SIM card exchanges are piling up. "Got swapped. Apparently the guy was able to do it in an Apple store and swapped it with an iPhone SE. Don't buy my keys, wallet has been compromised," one of the victims wrote on X.

On, users can buy and sell keys that give them access to private chat rooms and exclusive content. Earlier this week, users said their accounts had been drained by a SIM swap or phishing attack.

Manifold Trading, a company that develops tools for the ecosystem, therefore called on the platform to improve its account security measures by enabling two-factor authentication.

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