• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Sim Swapping Crypto Hacking Group Busted

05/11/2018 13:46
No comments

Turkish police has arrested 11 individuals on suspicion of hacking cryptocurrencies through Sim Swapping.

The individuals in question allegedly tricked phone providers into transferring the victim’s phone number to them.

Apparently fake IDs were prepared for this operation, according to local crypto media, with the thieves pretending the victim’s phone was stolen. They then managed to persuade phone providers to send them a new sim with the victim’s phone number. The real owner’s sim card was canceled.

The victim’s phone number was then used to reset the password through two factor authentication (2FA) password resets.

They managed to steal circa $80,000 worth of crypto through this method, but the police was able to catch them after victims complained.

According to another report, they were caught based on the IP addresses used at the crypto exchanges in question.

Their attempts to obfuscate funds was thus futile, with authorities raiding their premises where a gun was apparently found as well as 18 mobile phones, 20 flash memory drives, 5 laptops, 3 disks, 2 fake driver’s licenses and many fake IDs and cards.

Ten of the individuals in question, who have not yet been named by local media, are being detained in custody. Another one  has been released on bail.

Making this an interesting case because the operation appears to be very sophisticated, yet they were apparently not smart enough to use a VPS or other IP obfuscating methods.

How exactly they were caught, however, isn’t very clear yet as Istanbul’s Cybercrime Division would have had many tools at their disposal.

Props to them for a job well done if the court does find them guilty, not least because the amounts involved seem relatively small.

So suggesting police detectives have now smartened up quite a lot, gaining the expertise and the general knowledge needed to lock up crypto thieves.

The ease with which these thieves were able to gain access to someone else’s phone number, however, is highly concerning. Raising basic questions such as why are claimed lost sim replacements being send to addresses not on record.

Copyrights Trustnodes.com

 

Related Posts

Paul Grewal, Coinbase's Chief Legal Officer

We Asked SEC to Register, They Sent Us a Wells Notice Says Coinbase

Bitcoin and asset prices dive, March 2023

Bitcoin and Stocks Dip on Fed Hikes, But is it a Fakeout?

SEC Charges Tron’s Justin Sun

Expect a Pause Says Powell

Load More
  • Trending
  • Comments
  • Latest
Arbitrum abstract

Only 30% of Arbitrum Users Receive Airdrop

Paul Grewal, Coinbase's Chief Legal Officer

We Asked SEC to Register, They Sent Us a Wells Notice Says Coinbase

Bitcoin and asset prices dive, March 2023

Bitcoin and Stocks Dip on Fed Hikes, But is it a Fakeout?

NY District Court

XRP Hypes Ahead of Court Decision

Paul Grewal, Coinbase's Chief Legal Officer

We Asked SEC to Register, They Sent Us a Wells Notice Says Coinbase

Bitcoin and asset prices dive, March 2023

Bitcoin and Stocks Dip on Fed Hikes, But is it a Fakeout?

Justin Sun

SEC Charges Tron’s Justin Sun

Powell, March 2023

Expect a Pause Says Powell

Comments

Latest News

  • We Asked SEC to Register, They Sent Us a Wells Notice Says Coinbase
  • Bitcoin and Stocks Dip on Fed Hikes, But is it a Fakeout?
  • SEC Charges Tron’s Justin Sun

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

(You have to be a paid subscriber)

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2023. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?