- There was a massive attack on Friend.tech, leading to the loss of 22 Ethereum tokens.
- There are speculations that the root cause of this attack was a sim swap, and it is a very deadly type of attack.
In a post on Twitter, one of the community members of the popular Friend.tech narrated an attack that made him lose her cryptocurrencies. So, it was a story of how he lost around 22 Ethereum tokens, which is worth roughly $36,000, from a cyber attack. There are suspicions that the attack here is the famous sim swap attack. So, before we talk about the recent attack, let’s run through the meaning of the SIM swap attack.
What is a Sim Swap Crypto Attack?
- A sim swap attack is one of the latest methods by cybercriminals to steal cryptocurrencies and other digital assets from traders. So, these attacks occur when hackers attempt to gain access to your phone and lock you out with the intent to gain access to your important accounts. In the crypto industry, the primary intent of these hackers is to gain access to your crypto wallet.
- One of the worst aspects of this type of attack is that you might not have a chance of recovering your loss. So, this is because the attack looks like an authorized transaction when it is not.
The Story of the Friend.tech Sim Swap Attack
- A crypto enthusiast named Daren posted on Twitter narrating how he lost some of his digital assets due to a sim swap attack. So, within the Friend.tech platform, there are valuable “keys” on the platforms. Holders of these keys can sell or trade them. So, the hacker sold around 34 of these keys from this Twitter user’s account. But how did this happen?
- Daren said if your Twitter account has your real name, the hackers can easily get your phone number, and this is where the attack starts. So, according to Daren, many calls began coming into his phone, and he had to put it on silent mode. The occurrence of the sim swap attack was within this period, and it was through Verizon.
The Aftermath of the Friend.tech Sim Swap Attack
- According to this Friend.tech user, he opened his app and found the chats empty. So, in his words, “I opened FriendTech and thought there was a bug because my Chat was empty.”
- His 22 Ethereum tokens and 34 Friend.tech keys weren’t there anymore, too. So, it took a while to learn it was a sim swap attack the whole time. This post attracted a lot of attention, with close to 800k views on Twitter (now X).
Conclusion
There was a massive attack on Friend.tech that caused one of their users to lose more than 22 Ethereum tokens. So, there was also a loss of other digital assets, such as 34 Friend.tech keys. A sim swap attack is when cybercriminals manipulate your sim setup to gain access to certain important information.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
