Multiple Crypto Influencers Struck By SIM Swap Attacks S | Bitcoin Industry

Multiple Crypto Influencers Struck By SIM Swap Attacks

SIM swappers are beginning to target crypto influencers ahead of the holidays, with some taking control of their high-profile accounts on X.

Some include the accounts of crypto investment firm Manifold Trading and its founding partner, Jae Chung. Unlike regular posts about platform products and market analysis, both accounts posted a series of malicious links to crypto drainers, which have already claimed some victims.

Chung confirmed to CoinTelegraph that the hack was caused by a SIM swap, but that only his and the company’s X accounts were impacted. Anything “fund-related,” he said, remains safe.

SIM stands for Subscriber Identity Module. Mobile phones come baked in with a SIM card that stores identifying information (aka your phone number).

Hence a SIM swap is when a hacker takes control of your phone number, usually by convincing a cell carrier to switch your number to a SIM in their possession. Naturally, this gives the hacker access to any accounts for which a victim uses that number for two-factor authentication.

Farokh – the pseudonymous founder of the decentralized media platform “Rug Radio” – also confirmed he’d been SIM swapped on Wednesday. Earlier this month, the firm formed a merger with crypto media outlet Decrypt.