How can sim swap attacks affect my digital wallet and cryptocurrency holdings?

3 answers

• Feb 17, 2022 · 3 years ago
  Sim swap attacks are a type of fraud where a hacker gains control of your mobile phone number and uses it to access your digital wallet and cryptocurrency holdings. This can happen when the hacker convinces your mobile service provider to transfer your phone number to a SIM card under their control. Once they have control of your phone number, they can reset passwords, access your accounts, and steal your funds. To protect yourself from sim swap attacks, it's important to use strong and unique passwords, enable two-factor authentication, and be cautious of phishing attempts. Additionally, you can contact your mobile service provider to add extra security measures to your account.
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• Feb 17, 2022 · 3 years ago
  Sim swap attacks can have devastating consequences for your digital wallet and cryptocurrency holdings. If a hacker gains control of your phone number, they can easily bypass two-factor authentication and gain access to your accounts. They can then transfer your funds to their own wallets, leaving you with no way to recover your stolen assets. It's crucial to be vigilant and take steps to protect yourself, such as using hardware wallets, regularly updating your passwords, and monitoring your accounts for any suspicious activity.
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• Feb 17, 2022 · 3 years ago
  Sim swap attacks are a serious threat to the security of your digital wallet and cryptocurrency holdings. These attacks involve hackers tricking your mobile service provider into transferring your phone number to a SIM card under their control. Once they have control of your phone number, they can intercept SMS verification codes and gain access to your accounts. This puts your digital assets at risk of being stolen. To protect yourself, consider using alternative forms of two-factor authentication, such as authenticator apps or hardware keys, and regularly monitor your accounts for any unauthorized activity.
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