SIM Swapping Attacks on the Rise
The FBI is reporting a massive 10x increase in reported SIM swapping attacks. Attackers hijack your cell number to intercept SMS-based 2 factor authentication messages. That’s why we recommend moving to app-based/soft token or physical token for multifactor authentication. The attackers seem to be currently targeting cryptocurrency wallets, but any online account can be targeted.
Our key tips for preventing SIM swapping attacks:
– Don’t brag about your cryptocurrency online
– Move from SMS-based 2fa to app/soft token/physical token
– Ask your cellphone provider for a “Number Lock” or “Port Freeze”
– Ensure you have a not easily guessable PIN number or security word set up with your cell phone provider. They are the weak link in this scenario
– Educate yourself on how to avoid phishing emails, texts, and fraud calls
See the full write-up from ZDNet for more information.