SIM swapping ring $400 M stole in crypto from a US company officials allege
The US may have revealed the nation mega SIM swap scheme yet charging a Chicago man and co conspirators with stealing $400 million in cryptocurrency by targeting more 50 victims in over than a dozen states including one company.
SIM swap attacks happens when fraudulently induces a wireless carrier to reassign a mobile from the legitimate subscriber or user SIM card to a SIM card managed by a criminal actor.