Nine Charged in Alleged SIM Swapping Ring
Summary: Eight Americans and an Irishman were charged with wire fraud in Michigan federal court for allegedly running a SIM-swapping ring known to members as "The Community," which the government says made more than $2.4 million stealing cryptocurrencies and extorting victims for restored access to hijacked social media accounts. Six face a fifteen-count indictment including wire fraud, conspiracy and aggravated identity theft, while a separate complaint charges three former mobile provider employees - one from Verizon and two from AT&T stores - with collaborating in the scheme.
Key Takeaway: The alleged take of more than $2.4 million came from reset links sent by text to numbers that carriers handed over, and three of the accused were the carrier employees who could bypass the PINs and codes customers are told to set.
Read the original at Krebs on Security ↗
- Topics
- Identity & Access Management
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