RATE Group | Feds Arrest 2 for Stealing Crypto Via SIM-Swapping Scams | News & Opinion
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Feds Arrest 2 for Stealing Crypto Via SIM-Swapping Scams | News & Opinion

16 Nov Feds Arrest 2 for Stealing Crypto Via SIM-Swapping Scams | News & Opinion

Posted at 09:42h in Cryptocurrency News by

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Two Massachusetts men have been arrested for using “SIM swapping” attacks to help them steal cryptocurrencies from victims and take over access to social media accounts.

On Thursday, federal agents arrested 21-year-old Eric Meiggs and 20-year-old Declan Harrington for the suspected crimes, which involved duping cellular providers into handing over access to victims’ mobile phone numbers.

Getting access to the numbers opened the door for Meiggs and Harrington to break into online accounts at Google, Yahoo, and Facebook, among others. That’s because phone numbers often serve as a crucial communication channel for password reset links or one-time codes to grant access to an account.

Meiggs and Harrington allegedly took advantage of this flaw to target at least 10 victims in the US. According to federal investigators, the goal was to hijack email accounts belonging to executives at cryptocurrency companies in an effort to gain access to their digital wallets.

It isn’t entirely clear…

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