SIM exchangers arrested after allegedly attempting to steal more than $ 550,000 in cryptocurrency

Authorities arrested two men and charged them with plotting to steal half a million dollars from cryptocurrency by SIM card exchange.

21-year-old Eric Meiggs of Brockton, Mass., And Declan Harrington, 20, of Rockport, Mass., Have been indicted in a charge of 11 counts. conspiracy, eight counts of indictment wire fraud, a charge of computer fraud and misuse and an aggravated charge of indictment identity theft.

Meiggs and Harrington reportedly targeted leaders of cryptocurrency companies and others that held considerable amounts of cryptocurrency and those with high social value media Account names, the indictment says.

The two men allegedly conspired to hack and take charge of online stories of at least 10 identified victims across the country. In total, police say they have sought to steal more than $ 550,000 cryptocurrency.

SIM card exchange is a popular technique among the criminals. The technique allows the criminals convince the victim's cell phone carrier to reallocate their phone number SIM card inside the victim's home. device to the SIM card inside one's phone controlled by the pirate.

the criminal then poses as a victim with a online Account provider and their request to send Account password-reset links or an authentication code for the compromise device, thus allowing criminal to reset the victim identifiers and hack their Account.

Last May, Hard Fork recounted how a member of a hacker group called it Community, "Was facing more than 100 years behind bars after allegedly cheating over $ 2 million worth of crypto-currencies in one series SIM card swap attacks.

In October, AT & T stated that he was going to challenge the allegations of negligence after allegedly contributing to a loss of $ 1.7 million cryptocurrency during a complex incident of SIM card exchange.

Earlier this month, Gregg Bennett, a SIM card swap victim, said he was suing the Bittrex cryptocurrency exchange for nearly $ 1 million in theft. Bitcoin.

This kind of the attacks are likely to disappear soon, but consumers can do many things to stay safe, according to the advice of the Federal Trade Commission: do not answer calls, email, or text messages asking personal information; limit the personal information you share online; set a PIN or password On your phone; and consider using stronger authentication on accounts with sensitive personal or financial information.

And if you think you are the victim of a SIM card swap, contact your supplier and check your Account statements.

Posted on November 15, 2019 – 11:00 UTC