TechFlow reports that three individuals have been charged in a federal indictment filed in Washington for orchestrating SIM swap scams, allegedly stealing over $400 million from cryptocurrency exchange FTX.
The defendants collected victims' personal information and persuaded mobile service providers to transfer the victims' phone numbers to fake devices they controlled, allowing them to intercept text messages and gain access to victims' financial accounts and cryptocurrency wallets. They reportedly used fake identification to convince AT&T to port mobile accounts to new SIM cards and accessed cryptocurrency wallets on FTX.
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