Crypto News- Friend Tech, a decentralized social media platform, has responded to a series of SIM-swap attacks by introducing an additional security feature. On October 9th, the team announced the addition of 2FA (two-factor authentication) passwords for added protection. Users will be prompted to set up this password when logging in on new devices. It’s important to note that neither Friend Tech team nor the Privy teams can reset these 2FA passwords.
Friend Tech Strengthens Security in the Aftermath of SIM-Swap Attacks
The need for this security upgrade arose following a string of SIM-swap attacks on Friend Tech users. The first incident occurred on September 30th when a user named “Froggie.eth” was targeted, leading to increased vigilance among users. Subsequently, more users shared similar stories, with around $172,000 worth of Ether stolen from four users within a week. Additional attacks resulted in the theft of $385,000 worth of Ether.
Friend Tech had previously updated its security on October 4th, allowing users to manage their login methods. While some users criticized the delay, others, like “0xCaptainLevi,” saw the value in two-factor authentication (2FA) and its potential to enhance the platform’s security.
In related news Jason Yanowitz, founder of Blockworks, revealed one tactic used in these SIM-swap attacks on October 8th. Attackers typically send a text message requesting a number change, and users can respond with “Yes” or “No.” Responding with “No” leads to receiving a legitimate verification code from Friend Tech, which users are prompted to send to the scammer’s number. A follow-up message warns that if no response is received within 2 hours, the change will proceed, potentially resulting in an account breach.
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