A 20 years old college going student was found guilty of “Sim Swapping” and stealing a huge amounted Cryptocurrency of $5 million from the victim by hijacking his phone. Joel Ortiz, a college goer from California has been duping around 40 victims by the very famous process of Sim Swapping and literally stealing the cryptocurrencies of the victim.
Sim Swapping is a process used by the attackers to rob the cryptocurrencies of the victim through his or her phone number. The attackers collect mobile number of the victims and place a phony call to the victim’s providers. When the providers receive the call, the attacker tries to convince them by telling that their sim card has been lost and he is the original person asking for help. Also they places request for a sim swap. They trick the telecommunications personnel and provide them with all the details of the victim such as their SSNs and addresses and finally manage to port the number. Once the number is successfully ported, the attacker collects the details of the victim and this lets them have access to all types of passwords and verification codes like OTP, two-factor authentication etc which they use to reset the passwords of the wallets, Cryptocurrency accounts, social media, bank accounts and e-mail.
Joel is the first ever person caught of Sim Swapping and has been sentenced to 10 years of imprisonment. He did not want to face the trials and other severe consequences levied by the Jury and decided to accept the plea for 10 years the other week. Nevertheless, the official sentencing of Joel is yet to happen and the date provided by the Jury is on 14th of March.