TechFlow reported, according to Forbes, Bart Stephens, co-founder of crypto venture firm Blockchain Capital, suffered a SIM swap attack in May and had $6.3 million worth of Bitcoin, Ethereum, and other cryptocurrencies stolen.
SIM swap attacks typically rely on hackers manipulating or using "social engineering" tactics to deceive mobile network customer service operators into revealing victims' personal information. The hackers then use this information to pass security checks and port the victim's phone number to a new SIM card and device under their control.
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