🔒 A $24M Hack Through SIM Swap 

In 2018, crypto investor Michael Terpin lost $24 million due to a SIM swap attack, where hackers took control of his phone number to access his crypto assets. Terpin sued AT&T, but the court sided with the company. 🤷

A SIM swap attack occurs when hackers gather victim data, impersonate them to the phone carrier, and transfer the phone number to a new SIM card they control. In January, this same method was used to hack the SEC’s X account. 🕶 @cryptoteluguo @cryptogirl