March 27, 2024
Founders Hit By SIM-Swap Attacks
Latest Cryptocurrency News

Founders Hit By SIM-Swap Attacks

The founders of Manifold Trading and Rug Radio have acknowledged that they were recently targeted in SIM-swap attacks. SIM-swap attacks have surged in the week leading up to Christmas, impacting the founders of Manifold Trading, Rug Radio, and other crypto influencers in the past 48 hours. Some individuals lost control of their accounts on X (formerly Twitter).

On December 22, a SIM-swap hacker successfully seized control of Manifold Trading’s official X account, along with its founding partner Jae Chung. The hacker posted a series of malicious links to crypto drainers. Chung confirmed that the hack resulted from a SIM-swap attack, despite the account being protected by an email address and password.

Chung assured that only his and Manifold’s Twitter accounts were compromised, and any “fund-sensitive” information remained secure. Steps were being taken to recover the accounts and restore normal functionality. On December 21, Farokh, the pseudonymous founder of Rug Radio, also fell victim to a SIM-swap attack.

However, he reassured his followers that the phone number was not linked to his Twitter account. Rug Radio had recently announced a merger with crypto publication Decrypt on December 10.

A SIM-swap hack is a specific type of fraud where attackers take control of a victim’s phone number, granting them access to bank accounts, credit cards, and crypto-related accounts relying solely on SMS verification.

Image By flatart

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