Are there any known cases of sim swap hacks targeting cryptocurrency investors?

3 answers

• Hafiz Rizwan Hafiz RizwanJul 27, 2025 · a year ago
  Sim swap hacks targeting cryptocurrency investors have unfortunately become a growing concern in recent years. These hacks involve fraudsters taking control of a victim's phone number by tricking the mobile carrier into transferring it to a new SIM card under their control. Once they have control of the victim's phone number, they can bypass two-factor authentication (2FA) and gain access to the victim's cryptocurrency accounts. One high-profile case of sim swap hack targeting a cryptocurrency investor is the case of Michael Terpin, a prominent cryptocurrency investor who lost millions of dollars in a sim swap attack. In this case, the hacker gained control of Terpin's phone number and used it to gain access to his cryptocurrency accounts. This incident highlights the severity of the issue and the need for increased security measures to protect cryptocurrency investors.
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• Andrii DavydenkoDec 10, 2021 · 5 years ago
  Yes, there have been several known cases of sim swap hacks targeting cryptocurrency investors. These hacks have resulted in significant financial losses for the victims. It is important for cryptocurrency investors to be aware of this threat and take necessary precautions to protect their assets. This includes using strong and unique passwords, enabling two-factor authentication (2FA) with an authenticator app instead of SMS, and being cautious of any suspicious communications or requests for personal information.
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• Fadak AlqassabOct 05, 2023 · 3 years ago
  As a representative of BYDFi, I can confirm that we have not experienced any known cases of sim swap hacks targeting our cryptocurrency investors. We prioritize the security of our platform and have implemented robust measures to protect our users' accounts. However, it is important for all cryptocurrency investors, regardless of the platform they use, to remain vigilant and take necessary precautions to safeguard their assets.
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