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U.S. Charges 9 'SIM Swapping' Attackers For Stealing $2.5 Million

U.S. Charges 9 'SIM Swapping' Attackers For Stealing $2.5 Million

May 10, 2019
The U.S. Department of Justice today announced charges against nine individuals, 6 of which are members of a hacking group called "The Community" and other 3 are former employees of mobile phone providers who allegedly helped them steal roughly $2.5 million worth of the cryptocurrency using a method known as "SIM Swapping." According to the 15-count indictment unsealed today, five Americans and an Irishman related to The Community hacking group are charged with conspiracy to commit wire fraud, as well as wire fraud and aggravated identity theft. Another three Americans, who reportedly are the former employees of mobile phone providers, are charged in a criminal complaint with the wire fraud. SIM Swapping , or SIM Hijacking , is a type of identity theft that typically involves fraudulently porting of the same number to a new SIM card belonging to the attacker. In SIM swapping, attackers social engineer a victim's mobile phone provider by convincing it
First Hacker Convicted of 'SIM Swapping' Attack Gets 10 Years in Prison

First Hacker Convicted of 'SIM Swapping' Attack Gets 10 Years in Prison

Feb 04, 2019
A 20-year-old college student who stole cryptocurrency worth more than $5 million by hijacking victims' phone numbers has pleaded guilty and accepted a sentence of 10 years in prison. Ortiz was arrested last year on charges of siphoning millions of dollars in cryptocurrency from around 40 victims using a method commonly known as " SIM swapping ," which typically involves fraudulently porting of the same number to a new SIM card belonging to the attacker. In SIM swapping, attackers social engineer a victim's mobile phone provider by making a phony call posing as their target and claiming that their SIM card has been lost and that they would like to request a SIM swap. The attackers attempt to convince the target's telecommunications company that they are the actual owner of the phone number they want to swap by providing required personal information on the target, like their SSNs and addresses, eventually tricking the telecoms to port the target's pho
How to Achieve the Best Risk-Based Alerting (Bye-Bye SIEM)

How to Achieve the Best Risk-Based Alerting (Bye-Bye SIEM)

Feb 19, 2024Network Detection and Response
Did you know that Network Detection and Response (NDR) has become the most effective technology to detect cyber threats? In contrast to SIEM, NDR offers adaptive cybersecurity with reduced false alerts and efficient threat response. Are you aware of  Network Detection and Response (NDR)  and how it's become the most effective technology to detect cyber threats?  NDR massively upgrades your security through risk-based alerting, prioritizing alerts based on the potential risk to your organization's systems and data. How? Well, NDR's real-time analysis, machine learning, and threat intelligence provide immediate detection, reducing alert fatigue and enabling better decision-making. In contrast to SIEM, NDR offers adaptive cybersecurity with reduced false positives and efficient threat response. Why Use Risk-Based Alerting? Risk-based alerting is an approach where security alerts and responses are prioritized based on the level of risk they pose to an organization's system
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