U.S. authorities have charged two alleged cybercriminals with stealing $550,000 in cryptocurrency from at least 10 victims using SIM swapping. Sim Swapping, or SIM hijacking, is a technique that typically involves social engineering of a target’s mobile phone provider. The two defendants Eric Meiggs (20) and Declan Harrington (21) not just only targeted users with high-value cryptocurrency accounts, but also targeted executives of cryptocurrency companies. The duo has been charged in an 11-count indictment, with: each defendant faces a maximum penalty of 20 years in prison.
Source: https://thehackernews.com/2019/11/hacking-with-sim-swapping.html