Friend.tech SIM-swap scourge continues with scammers netting $385K in Ether.
A single fraudster reportedly managed to steal $385,000 worth of Ether (ETH) in less than 24 hours in a series of SIM swap hacks that appeared to target Friends.Tech users.
On October 5, blockchain sleuth ZachXBT reported that the same scammer had stolen 234 ETH in the last 24 hours by sim-switching four different Freden.tech users.
The movement of crypto assets on the chain is attributed to the same hacker who drained the accounts of the four victims.
The same scammer made $385K (234 ETH) in the last 24 hours while converting four different FredenTech users. pic.twitter.com/03BoBEqGax
— ZachXBT (@zachxbt) October 4, 2023
One of the victims of the latest SIM-swap attack posted on X (Twitter) following the attack:
“Sim swapped. Apparently, dude managed to get one from the Apple Store and switched it to an iPhone SE. Don't buy my keys, that wallet is messed up.”
X user “KingMgugga” reported that they were being targeted in an instant, posting on X that they were “shifting to see the sim happening” and asked for help. Meanwhile, another X user “Holycryptoroni” confirmed that they were similarly attacked and lamented, “I exchanged apologies.”
Earlier this week, four more Friend.tech users reported having their accounts hacked due to SIM-swap or phishing attacks, with a total of 109 ETH stolen.
I changed sim through @friendtech and got robbed of 22 ETH
All 34 of my own keys were sold, dragging everything that held my keys, my other keys were sold, and the rest of my ETH poured into my wallet.
If your Twitter account is linked to the real thing… pic.twitter.com/5wA86mjYEG
— Darn (friend, friend) (@darengb) October 3, 2023
Friend.tech allows users to purchase “keys” for individuals, allowing access to private chat rooms with them.
SIM-swap fraud occurs when fraudsters obtain a victim's phone number and use it to obtain authentication, which allows them to access their social media and crypto accounts.
Maniford Trading, a maker of eco-friendly construction equipment, estimated that $20 million of Friend.tech's $50 million total valuation could be locked in and at risk. He asked the platform to strengthen account security measures by enabling two-factor authentication (2FA).
Related: How Simple Is a SIM Swap Attack? Here's how to prevent one
In the wake of the massive data hack of Vitalik Buterin's account in September, there have been calls for X to implement 2FA security measures to prevent the release of mobile phone numbers due to SIM swapping.
“0xfoobar,” the founder and CEO of a wallet security firm, recommends removing phone numbers from social media accounts.
crypto twitter is a neighborhood where once a day someone leaves their front door open, gets robbed and everyone gets together and leaves their front doors open. Instead of rewriting the 75th Simswap of the week, put your phone away from everything.
— foobar (@0xfoobar) October 5, 2023
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