How can sim swapping affect my digital currency wallet security? 😮

3 answers

• Dec 27, 2021 · 3 years ago
  Sim swapping can compromise the security of your digital currency wallet by allowing the attacker to gain access to your phone and intercept any two-factor authentication (2FA) codes sent via SMS. With access to your 2FA codes, the attacker can bypass the security measures of your wallet and gain control over your funds. It is important to use alternative forms of 2FA, such as hardware tokens or authenticator apps, to mitigate the risk of sim swapping attacks.
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• Dec 27, 2021 · 3 years ago
  Sim swapping can lead to unauthorized access to your digital currency wallet, as the attacker can reset your account passwords by intercepting the password reset emails or SMS verification codes. Once the attacker gains control over your wallet, they can transfer your funds to their own accounts without your knowledge. To protect yourself from sim swapping attacks, it is crucial to enable additional security measures, such as multi-factor authentication and strong, unique passwords for your wallet accounts.
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• Dec 27, 2021 · 3 years ago
  Sim swapping can be a serious threat to the security of your digital currency wallet. Attackers can use social engineering techniques to convince your mobile service provider to transfer your phone number to a new SIM card under their control. Once they have control over your phone number, they can reset passwords and gain access to your wallet accounts. To prevent sim swapping attacks, it is recommended to contact your mobile service provider and request additional security measures, such as requiring an in-person visit or providing a unique PIN for any SIM card changes.
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