Friend.Tech Users Lose $385K in SIM Swap Attacks; App Rolls Out New Safeguards
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Friend.Tech users report losing $385k in ether from SIM swap attacks this week. The app itself was not hacked.
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3 influential X (formerly Twitter) accounts said they were targeted in SIM swaps, with attackers stealing their ether.
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SIM swapping is when criminals take over a phone by tricking providers to connect the number to a hacker's SIM card.
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Friend.Tech introduced new login options to help prevent attackers gaining access through SIM swaps.
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Security experts say robust defenses against SIM swaps involve requiring both email and phone authentication, or app-based two-factor authentication.