Unfortunately, Sim swapping attacks are still growing rapidly, in this month of August I have got bad news about two U.S based family friend losing over 45 ETH and 0.7BTC because of sim swap attacks.
What I have been able to gather is, the telco guys working inside AT&T and other telecommunication companies are the ones bypassing all security measures, now not even your sim SMS 2FA codes can safe your ass from these guys.
Sim swapping is more easier for them, because, remember, if we lost SIM card or it get damaged we can easily retrieve by their help, they will redirect your number into another new SIM card, and you are back online, This makes telecommunications dangerous when it comes to crypto.
Let's stop deceiving ourselves, there is no solution to this attack than
1. Separate your crypto away from your SIM card number.
2. Stop using your phone number to get verification codes for crypto exchanges and other crypto-related platforms.
3. Stop storing crypto on exchanges, e.g coinbase, crypto.com and Binance exchange.
There is a big problem with people in the UK and US when it comes to crypto, they like storing their coins on exchanges, thinking that those 2FA codes and one time passwords for transactions will save them, which is not impossible for SIM swap attacks.
This was also why most people living in the U.S. and the U.K are the biggest victims of FTX, why these people refers storing crypto on platforms and exchange is worrisome, they are their own problem because crypto was never built to be kept on any exchange.
why would at&T tolerate this behavior of those people that's bad for business, anyway or maybe hackers have gather your information somewhere and change, at the same time avoid giving information via phone, a lot of people in my country give information when someone pretends that they are employee of the company or telecom, someone try to do this to me, asking what is my email address, i return the question to him, saying you have my records, in your computer why are you asking it again, also like birthdate , it ended up that he is not working in the company, also avoid using your mobile phone when signing up to a certain site which you don't have any clue, those are just farming information, have you wonder someone called you from a store, and you have no clue why they have your number? I would say, there will come a time that you have no choice, but to use those exchange, so just securing your phone, never click some links, and your good, never entertain calls , you have no business, i received lots of calls last year from unknown exchange, I just ignore them, until now still safe, thank god.