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United States lawmakers have appealed to the Federal Communications Commission (FCC) to hold telecoms providers to account for failing to protect consumers against SIM swap attacks.SIM-swapping — alternatively known as a port-out scam — involves the theft of a cell phone number in order to hijack online financial and
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Court documents allege that Pennsylvania resident Anthony Faulk hijacked a crypto company executive's phone, stealing crypto and using the proceeds for an expensive watch, music royalties, jewelry and a house. Source
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Sim swapping recently resurfaced on the map as one of the easiest means to defraud crypto investors. And while the sim owners could be crucified for negligence, no one has taken the time to question network providers which are supposedly custodians of these sim cards.Thankfully, a legal firm committed to
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The United States Department of Justice has arrested and charged two Massachusetts men for allegedly taking over victims’ social media accounts and stealing cryptocurrency.According to the announcement on Nov. 14, the two — Eric Meiggs and Declan Harrington — were charged with one count of conspiracy, eight counts of
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Crypto exchange Bittrex is being sued over a SIM swap that netted criminals 100 bitcoin, currently worth nearly $1 million. The case resembles other recent high-profile heists in which a hacker seizes control of a victim’s cell phone to
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Over the past week, the global crypto community bore witness to a unique case wherein California resident and blockchain entrepreneur Seth Shapiro filed a lawsuit against American telecom giant AT&T — alleging that a couple of the firm’s employees had perpetrated a nefarious SIM-swap scheme that resulted in the
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SIM swapping victim Michael Terpin wrote an open letter to the United States Federal Communication Commission (FCC) Chairman Ajit Pai.In his letter, posted by Coindesk on Oct. 21, Terpin requested that the regulator take decisive action against SIM swapping and end this type of fraud.Terpin proposes to force all
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Leading communications and technology company Verizon has been awarded a patent for using virtual subscriber identity modules (vSIMs) for customers’ devices.A filing with the United States Patent and Trademark Office on Sept. 10 details a blockchain encryption technology, wherein a traditional physical SIM card can be replaced with a
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Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS.According to the company’s Medium post published on Aug. 22, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. Notably, these transactions
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