Crypto Sleuth Reveals Culprit Behind SIM Swaps

  • A Canadian man was involved in 17 SIM swap attacks in 2023.
  • These attacks resulted in the theft of over $4.5M from crypto professionals.
  • SIM swapping is transferring a victim’s number to a hacker’s SIM for account access.

A far-reaching investigation has exposed a Canadian man’s involvement in a spree of ‘SIM Swap’ attacks that drained millions from crypto professionals this year.

Findings by pseudonymous sleuth ZachXBT revealed an individual, identified as “Yahya,” assisted in 17 SIM swaps in 2023 that resulted in over $4.5 million in stolen funds.

SIM swapping refers to a technique where scammers convince phone carriers to transfer a victim’s number to a SIM card controlled by hackers. This grants access to accounts linked to the compromised phone number.

As per the investigation, Yahya provided personal details on targets to lead hacker “Skenkir,” who executed the phone hijackings primarily aimed at U.S. residents. Yahya received a cut of up to 15% of the stolen assets as payment.

Among the named victims are — Yuga Labs CEO Daniel Alegre, OpenAI CTO Mira Murati, crypto influencer Bitboy, the Aptos Foundation, PleasrDAO, and many NFT holders.

In one example, Yahya pocketed $250,000 following a July 2022 attack on the Gutter Cat Gang team that incurred $720,000 in losses. In total, Yahya’s wallet received over $720,000 in Ethereum from his role across the 17 attacks.

Earlier, reports from ZachXBT revealed that 54 prominent crypto figures fell prey to SIM swapping schemes in 2023, amounting to over $13 million in combined theft. ZachXBT mentioned that the scammer showed little remorse for his actions when confronted and quipped that, 

Like bro, its a lot of money they offering just for lookups.

The investigation provides additional insight into the infrastructure enabling these devastating cybercrimes within the cryptocurrency industry. Law enforcement has yet to provide updates on holding the perpetrators accountable.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Comments

Post a Comment

Popular posts from this blog

Inquiry on Binance headquarters and audit left unanswered by new CEO Richard Teng

The new CEO of the Binance exchange, Richard Teng, dodged answering a question about the location of the company’s headquarters and its audit or. His statement was made as part of the Crypto and Digital Assets Summit organized by the Financial Times. During his speech, the new CEO of the exchange once again emphasized Binance’s “shortcomings” with respect to the company’s regulatory requirements. At the same time, Teng avoided questions related to the organization’s activities and structure. You might also like: Richard Teng takes the helm at Binance promising a shift away from outlawed behaviour When about Binance’s global headquarters , and whether the company will be audit ed, or if it plans to apply for a license in the UK, Binance’s new CEO said that he had already answered each of the questions asked “previously.” When asked again about the headquarters , Teng again brushed it off, emphasizing that it was “under consideration.” “...
Read more

Polygon 2.0 Aims to Become the Value Layer of Internet

Image
Thus, Polygon 2.0 will serve as a fundamental layer to create, exchange, as well as program value. The team claims that Polygon 2.0 will help democratize the global economy just as the internet helped in democratizing information access. Polygon 2.0 brings decentralized finance, digital ownership, and innovative coordination methods to the forefront. It fills the gap in creating an Internet that prioritizes users rather than gatekeepers, rent-seekers, or intermediaries. The new and upgraded Polygon version will serve as the blueprint for building the Value Layer. It Features a set of proposed upgrades bringing a major shift in the protocol’s architecture, tokenomics, and governance. The team shall reveal more details regarding Polygon 2.0 in the coming weeks. They will detail the future of the Polygon PoS chain, as well as the utility and the evolution of the MATIC token. Recommended Articles ...
Read more

Australian regulator ASIC to ramp up focus on digital scam

ASIC, Australia’s financial watchdog, has announced a new four-year plan prioritizing consumer protection against digital scams, including cryptocurrency-related frauds. ASIC, the Australian Securities and Investments Commission, has unveiled a new four-year strategy aimed at shielding consumers and businesses from digital scams, including those involving cryptocurrencies. Chair Joe Longo indicated that while ASIC has made strides since outlining its priorities last year, there’s ongoing work. The regulator is adapting to shifts in sustainable finance, the digital economy, and the challenges an aging population poses. You might also like: ASIC releases the top 10 ways to spot a crypto scam Longo also mentioned that ASIC closely monitors how emerging technologies like AI could impact businesses and consumers. Australia has been generally favorable toward digital currencies. The country has both embraced and regulated cryptocurrencies, most notably by exempt...
Read more