One cryptocurrency investor reportedly lost $24 million worth of bitcoin in a SIM swap a…

Reuters

• Crypto investor Michael Terpin lost roughly 1,5oo bitcoins on January 7, 2018, after falling victim to a SIM swap attack, The Wall Street Journal reported.
• The bitcoin stake was worth $24 million that day, roughly three weeks after the asset hit its record high price.
• The incredibly precise hack involves thieves taking control of a phone number and using it to access email accounts, bank reserves, and even crypto wallets.
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One crypto investor lost bitcoin worth as much as $24 million after falling victim to a new kind of hack known as SIM swapping, The Wall Street Journal reported.

Michael Terpin was hit by the attack on January 7, 2018, days after bitcoin reached its record high price. Thieves stole roughly 1,500 bitcoins by taking control of his phone number and using Google’s “Forgot password?” feature to gain access to his email. With possession of the two personal accounts, the thieves hacked…