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A 17-year-old hacker has been identified as the mastermind behind a series of sophisticated SIM-swapping attacks that resulted in the theft of millions of dollars worth of Bitcoin.
The teenager used social engineering techniques to trick mobile carriers into transferring victims\“ phone numbers to SIM cards under his control, allowing him to bypass two-factor authentication and gain access to cryptocurrency wallets.
Investigators discovered the suspect had been operating for over a year, targeting high-net-worth individuals in the crypto space and accumulating substantial digital assets through his elaborate schemes.
This case highlights the growing threat of SIM-swapping attacks in the cryptocurrency industry and the need for enhanced security measures beyond traditional SMS-based verification. |
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