The lone scammer managed to get away with about $385,000 worth of ether (ETH) in less than 24 hours.
This incident forms part of a series of SIM card hacks targeting users of the popular Friend.Tech platform.
A scammer steals 234 Ethereum in less than 24 hours
Blockchain investigator ZachXBT took to X on October 5 to report that an individual had successfully stolen 234 ETH in the past day alone. This was achieved by tampering with the SIM cards of four unsuspecting Friend.Tech users. Even more worrying is that the transfer of illicit cryptocurrency assets can be traced back to the same hacker.
The same scammer made $385,000 (234 ETH) in the last 24 hours by swapping the SIM cards of four different FriendTech users. pic.twitter.com/03BoBEqGax
– ZackXPT (@ZackXPT) October 4, 2023
One of the victims shared his ordeal, saying: “We changed the SIM card. Apparently, the guy was able to get this done at an Apple Store and turn it into an iPhone SE. Don’t buy my keys, this wallet has been hacked.”
Another user, @KingMgugga, reported in real time that he was witnessing the attack unfold, frantically calling for help. Meanwhile, @holycryptoroni confirmed that they had also fallen victim to a similar attack, lamenting: “I’ve changed, sorry.”
This is not the first time that Friend.Tech users have faced such attacks. Earlier in the week, four more users reported that their accounts had been drained due to either SIM swaps or phishing attacks, resulting in the theft of approximately 109 ETH.
Friend.Tech responds with a new security feature
Friend.Tech, a platform that enables users to purchase individual keys for private chat rooms, has found itself dealing with a serious security issue. SIM swap scams happen when attackers take control of a person’s phone number and use it to access their social media and cryptocurrency accounts.
Manifold Trading notes that up to $20 million of Friend.Tech’s total restricted value of $50 million may be at risk. As a result, they urged the platform to enhance account security measures, specifically by adding two-factor authentication (2FA) to provide better protection.
You can now add and remove login methods for your account https://t.co/YOHabcBL3H account. To access these settings, click on your wallet balance in the upper right corner of the app pic.twitter.com/d37VWVk2Eb
– friends.tech (@friendtech) October 4, 2023
The recent hack has reignited demands for Friend.Tech to implement 2FA security measures to protect against disclosure of mobile phone numbers. In response to the latest series of security breaches, Friend.Tech recently rolled out a new feature that enables users to delete specific login options, specifically phone numbers.
The founder and CEO of wallet security company Delegate also has it Recommended Remove phone numbers from social media accounts as a proactive measure against potential attacks.
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