FrienTech SIM Swap Attacks: Platform Now Enables Phone-to-Email Swap

Crypto News – A phone number-to-email conversion is now possible on the cryptocurrency-based social networking site FriendTech. Following many instances of SIM swap occurrences in which FriendTech members witnessed money being taken from their accounts, a fix was made.

FrienTech SIM Swap Attacks: Platform Now Enables Phone-to-Email Swap

At least six FriendTech customers have reported SIM swap assaults in the past week. In these events, hackers gained access to user accounts and stole their keys—a type of social token related to platform influencers that provided its holders with particular advantages.

Two such occurrences were recorded on October 3 and allegedly resulted in a loss of 42 ETH (about $70,000). According to on-chain investigator ZachXBT, four more FriendTech customers were targeted over the last day, allowing attackers to amass gains of almost $385,000 in total.

How are SIM Swap Attacks Conducted?

Attackers can identify SIM swap victims among FriendTech customers by using information from their public X profiles, according to Ouriel Ohayon, co-founder and CEO of Zengo Wallet.

Data about particular users can be deduced from accessible on-chain records as FriendTech associates users’ X profiles. In order to gain phone numbers, this data may be compared to earlier data breaches, according to Ohayon. This makes it easier for attackers to plan SIM swap attempts with telecom companies.