Can sim swaps be used to steal cryptocurrency?

3 answers

• Nov 27, 2021 · 3 years ago
  A sim swap is a technique where a hacker convinces a mobile carrier to transfer a victim's phone number to a new sim card under the hacker's control. With control of the victim's phone number, the hacker can bypass two-factor authentication and gain access to the victim's cryptocurrency accounts. This can lead to the theft of the victim's cryptocurrency holdings.
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• Nov 27, 2021 · 3 years ago
  Sim swaps can indeed be used to steal cryptocurrency. It is important to protect your phone number and enable additional security measures, such as using a hardware wallet and setting up multi-factor authentication, to prevent sim swap attacks.
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• Nov 27, 2021 · 3 years ago
  Sim swaps are a serious security concern in the cryptocurrency industry. At BYDFi, we prioritize the security of our users and have implemented robust measures to prevent sim swap attacks. We recommend users to enable two-factor authentication and regularly review their account activity to detect any suspicious behavior.
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