"Hackers Plan to Use Stolen Cryptocurrency Exchange Data for SIM Swapping"

Hackers have revealed their plans to use stolen personal data on users of the Canadian cryptocurrency exchange, Coinsquare, to execute SIM-swapping attacks. According to Coinsqaure, the data was taken by a former employee, further highlighting the risk of insider access. A SIM swapping attack involves using social engineering tactics to trick mobile carriers into transferring control over a legitimate user's mobile account to threat actors. With this control, a hacker can request password resets or the victim's two-factor authentication code. SIM swappers can also use these techniques to steal cryptocurrency. This article continues to discuss hackers' plans to use stolen cryptocurrency exchange data to perform SIM swapping attacks, the motive behind this breach, and Coinsquare's response to this incident.

Motherboard reports "Hackers Plan to Use Stolen Cryptocurrency Exchange Data for SIM Swapping"