The Bloomfield Township Police Department in Michigan is investigating the theft of over $200,000 worth of Bitcoin from a resident. The victim’s personal cell phone was reportedly hacked through a SIM swap.
SIM swapping occurs when a hacker takes control of someone’s mobile number and tricks the cell phone provider into transferring the number to a mobile device under the hacker’s control.
Once the hacker gains control of the victim’s mobile number, they can then access any online accounts linked to that number. In this case, the hacker reportedly accessed the victim’s Coinbase account and withdrew the large sum of Bitcoin.
The theft was reported to the police on May 9th, and the investigation is ongoing.
SIM swapping is becoming an increasingly common method used by cybercriminals to gain access to people’s online accounts. It can be a relatively simple process, and many cell phone providers are still vulnerable to this type of attack.
Victims of SIM swapping are often unaware of the hack until it is too late, making it challenging to recover stolen funds or personal information.
As cryptocurrency becomes more mainstream and the value of digital assets continues to rise, it’s more important than ever to take steps to protect your accounts. Some measures include using two-factor authentication, avoiding public Wi-Fi networks, and limiting the amount of personal information shared online.
It’s also essential to monitor your accounts regularly and report any suspicious activity immediately.
