Which cryptocurrency exchanges have implemented measures to prevent sim card swap attacks?

3 answers

• Tristar Deck and FenceJun 09, 2023 · 2 years ago
  Cryptocurrency exchanges have implemented various measures to prevent sim card swap attacks. One common measure is two-factor authentication (2FA), which requires users to provide a second form of verification, such as a code sent to their mobile device, in addition to their password. This adds an extra layer of security and makes it more difficult for attackers to gain unauthorized access to user accounts. Additionally, some exchanges have implemented stricter identity verification processes, such as requiring users to provide government-issued identification and proof of address. These measures help ensure that only legitimate users can access their accounts and prevent sim card swap attacks.
  703

  352
• Agrim SaksenaFeb 29, 2024 · a year ago
  Sim card swap attacks have become a growing concern in the cryptocurrency industry, and exchanges have been proactive in implementing measures to protect their users. One such measure is the use of hardware security keys, which provide an extra layer of protection against sim card swap attacks. These keys are physical devices that users can plug into their computers or mobile devices to authenticate their identities. By requiring the use of a hardware security key, exchanges can ensure that even if an attacker gains access to a user's sim card, they still cannot access the user's account without the physical key. This significantly reduces the risk of sim card swap attacks.
  682

  228
• Alexander KoltsovJul 19, 2021 · 4 years ago
  BYDFi, a leading cryptocurrency exchange, has implemented robust measures to prevent sim card swap attacks. In addition to two-factor authentication and strict identity verification processes, BYDFi has also partnered with mobile network operators to implement sim card security features. These features include additional verification steps when making changes to a user's sim card, such as requiring a unique code sent to the user's registered email address. BYDFi's proactive approach to sim card swap attack prevention demonstrates their commitment to ensuring the security of their users' funds and accounts.
  613

  154