He Thought His Phone Was Secure; Then He Lost $24 Million to Hackers
(Source: wsj.com)

clicks | 7 months ago | Google AI sentiment -0.80 | comments: discuss | tags: cryptocurrency

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(Original link: wsj.com)

Security researchers agree that for most people, adding text-message authentication is a big step up from only using a password, but that can leave you open to a relatively new attack called SIM swapping The first hint that Michael Terpin was about to have his digital life turned upside down—and lose a cryptocurrency windfall potentially valued at $24 million—seemed like an unremarkable annoyance. His mobile phone lost its signal.
But Mr. Terpin wasn’t driving between cell towers. He was working at a desk in his Las Vegas home. Way off in Norwich, Conn., someone had just taken over his phone number.