This is why it's best to avoid signing up on exchanges using phone number

[YellowSwap]

My family members was targeted yesterday through WhatsApp group, a group that's opened for family related discussion, this was possible because my aunt phone number got compromised, the only explanation she was able to come up with is Crypto.com, she said she has been receiving spam messages after she used her phone number to sign up on crypto.com.

I personally believe that a SIM swap scheme is going on here, the attacker gained access to her phone number and started messaging on group chat, everyone believed her to be her because it's her phone number, she started acting very weird saying she needed help that something happened at work and she needs money urgently.

Before I was able to be the alarm raiser my mother's two sisters already sent money to this fraudster, the account sent money to is an online bank account, and she asked me for USDT, I almost fell for it because my aunt knew that I was into crypto trading and investing but with the way she texted I knew it wasn't her.

I kept asking how the attacker knew that I am into crypto, that's when I make up my mind that this is a sim swap attack, every past messages I had with her will be revealed to the attacker.

I called my aunt second number to verify and she was shocked, she doesn't even know that something like that was going on, I ran back to the group to stop others from sending money, but it was too late, she lost some money she left on Binance exchange and luckily her bank account was running on the second phone.

[hopenotlate]

Generally speaking I think everyone should avoid every services requiring our personal details, not only phone numbers, our real names and real addresses amd email addresses ( even worse if matched with phone numbers) are avidly sought after on the market for both legal and illegal purposes: hackers, dishonest employees, and shady services take advantage of these informations and sell it on every available market.

I realize that avoiding KYCed services closes us off to a whole host of options, but what perhaps isn't clear to many is that accessing these services involves very high risks, and the potential damage from identity theft makes it, in my opinion, not worth the risk.

[_act_]

I do not give my phone number to exchanges, I only prefer to give them my emails only. Luckily there are many exchanges that you do not need to use phone number as you can use only email but phone number can be an alternative but which is not necessary. Most of the exchanges that I have are like this.

I have a brother that told something like this before, that after he gave out his phone number on one exchange like that, he started to see strange calls, but he suspected that early and avoid them.

[SatoPrincess]

Sorry this happened to your family. It’s good that you caught the scammers lies and warned the rest of your family.

We have to careful how we share our personal information online. From your story, I think your aunt was a victim of a SIM-swap rather than a victim of an exchange hack. If there had been an exchange leak phone numbers, it would be all over the news as we’d see many reports and victims.

[Hatchy]

You should know that it's not only exchange account that they can get your number from. This kind of scam is most common on WhatsApp.. they usual try to gain access to your WhatsApp account and once they do, they begin to message all your contacts for money... If you have a contact full of people who will usually turn up for you, then it becomes an easy prey for them. They won't stop till they are done looting your whole contact list. Once these hackers gain access to your phone number, they try to see every possible means to get into other private life of yours. And we know that majority of our personal life are linked to phone numbers.. so we just have to be very careful..

[Wiwo]

Email is the best for opening exchange, although even though you use your phone number the risk maybbe same as using Email which ball down to you giving access to the hacker unknowingly.

The best possible solution is to ve more private and never give your number online,  always have a throw number that you use for such registration and not your main number.

Alot of such attacks have been registered on WhatsApp i have seen a family member who's number was compromised in such manner too but the hackers where not able to deceive any family members since we detected the whole scheme on time.

[Abu-Naim]

This type of scam is rampant in Nigeria precisely because sim swap that is not completely regulated that everyone can hijack sims the way they like and that has caused a lot of problems which include the case you just mentioned. This same type of case has caused a lot of life and properties for so many people so crypto is not exempted and even if you didn’t use your phone number signup in an exchange.

Using exchange is not safe, but you can use an email to signup since the use of phone number is risky and can tempt your privacy, but don’t leave your money in there. Use exchange and crypto platforms to buy your coins and send them to your personal wallets instead of leaving them in any centralized crypto wallets or exchanges.

[un_rank]

There are many ways one can give hackers access to their phone number or email addresses. I have different random contact information I use for different services which is different from the personal one linked to my identity. I also avoid using phone numbers when I can, emails are easier to create and monitor.

...but it was too late, she lost some money she left on Binance exchange and luckily her bank account was running on the second phone.

2FA is also an important feature to set up to protect oneself if such a breach happens.

- Jay -

[Cryptoprincess101]

Generally speaking I think everyone should avoid every services requiring our personal details, not only phone numbers, our real names and real addresses amd email addresses ( even worse if matched with phone numbers) are avidly sought after on the market for both legal and illegal purposes: hackers, dishonest employees, and shady services take advantage of these informations and sell it on every available market.

I realize that avoiding KYCed services closes us off to a whole host of options, but what perhaps isn't clear to many is that accessing these services involves very high risks, and the potential damage from identity theft makes it, in my opinion, not worth the risk.

How is it even possible not to give out personal details when almost everything we do online that relates to money requires undergoing KYC documentation. So far as KYC is mandatory on centralized exchanges, it is unavoidable for our personal details not to get exposed. We should just be very careful and verify information thoroughly before taking any actions. What we should just do is to find services that has strong security protocol so that our data and personal details do not get compromised and become vulnerable to scammers.

[Kavelj22]

I realize that avoiding KYCed services closes us off to a whole host of options, but what perhaps isn't clear to many is that accessing these services involves very high risks, and the potential damage from identity theft makes it, in my opinion, not worth the risk.

It's not worth the risk. That's true. But it also worth the risk. This is also true. When you have no alternatives in a world where you have no choice to communicate with your social networks but to use centralized platforms that require a set of rules to be applied. We have choices to communicate in the world but to give some of your privacy. This is what makes us vulnerable to thiefs from all kind.

[Apocollapse]

Well in other words you're suggest people to use no KYC P2P or DEX, even some no KYC P2P require to use phone number.

I don't think there's a centralized exchange allow us to use their exchange without using phone number, we could avoid to use phone number during registration, but we're not able to make deposit and withdraw (then what's the point to use exchange if we're unable to deposit and withdraw lol).

[BIT-BENDER]

Your phone number is something you prevent from getting public and make it a very important priority to do so. Although I that exchanges that ask for your private details like you phone number should have a good record of keeping that information very safe.
Aside from keeping your number safe away from exchanges there are those who give out their number during peer2peer chat with a potential buyer of their coin, that is also a mistake you need to avoid .

[DYING_S0UL]

I don't quite follow this sim swapping thing, never heard of it to be honest. Is sim swap and sim clone same or similar?

 At here, the majority of the users still uses physical sims, that needs to be actively present, inserted into the phone for to work. There is no swapping process through the internet afaik. And even if I wanted to change sim's ownership or replace or change the operator, anything at all, I still need to be physically present at the customer care to do so. I guess I'm somewhat saved then?!

As for sending money, I always tell them to send me a voice message just to confirm whether it's really them or someone else that hacked their account and trying to scam me! Better late than sorry,

This ss is from today...

[HONDACD125]

First of all, I don't think name-calling a platform for the attack would be appropriate because you are not completely sure that this happened because of them. And then, I think people should always ask for a voice note when someone suddenly starts asking for money from them, especially if they are very close to those people, and they don't very often ask for money. This way, they would be safe from such scams, but I know that people don't think of such things impromptu, and later they think they should have done this and that, and they could be safe.

It's not possible for people to avoid providing personal information to platforms but it's important that we make sure that we only do that to platforms that we know are trusted and won't tamper with our information, or even sell it forward to advertising agencies and such, because new and untrustworthy platforms and companies would often do such things. Now I know that if I give my phone number to Binance, it's not going to be compromised.

[pliego]

My family members was targeted yesterday through WhatsApp group, a group that's opened for family related discussion, this was possible because my aunt phone number got compromised, the only explanation she was able to come up with is Crypto.com, she said she has been receiving spam messages after she used her phone number to sign up on crypto.com.

I personally believe that a SIM swap scheme is going on here, the attacker gained access to her phone number and started messaging on group chat, everyone believed her to be her because it's her phone number, she started acting very weird saying she needed help that something happened at work and she needs money urgently.

Before I was able to be the alarm raiser my mother's two sisters already sent money to this fraudster, the account sent money to is an online bank account, and she asked me for USDT, I almost fell for it because my aunt knew that I was into crypto trading and investing but with the way she texted I knew it wasn't her.

I kept asking how the attacker knew that I am into crypto, that's when I make up my mind that this is a sim swap attack, every past messages I had with her will be revealed to the attacker.

I called my aunt second number to verify and she was shocked, she doesn't even know that something like that was going on, I ran back to the group to stop others from sending money, but it was too late, she lost some money she left on Binance exchange and luckily her bank account was running on the second phone.

This is exactly why using phone numbers for exchanges and 2FA is risky. Email + app-based 2FA is way safer imo. Glad you caught it before sending anything

[armanda90]

Without blame the security of any exchange market, overall I used my phone number for all exchange already registered and there are never get spam yet from exchange market. Usually all notification trough market its self sending to my email and my phone number only get notification if withdrawing fund and need OTP code. I think has something wrong your family phone number already use for other website get confirmation code and not fully the mistake when using that phone number for verifying at exchange market.
All cryptocurrency market have regulation and privacy for the user data from mobile phone, privacy information and never sent any spam or notification trough phone number. Better rechecking with your family phone number what site already used before without blame error or mistake from Crypto.com exchange market.

[Rubuchi]

My family members was targeted yesterday through WhatsApp group, a group that's opened for family related discussion, this was possible because my aunt phone number got compromised, the only explanation she was able to come up with is Crypto.com, she said she has been receiving spam messages after she used her phone number to sign up on crypto.com.

I personally believe that a SIM swap scheme is going on here, the attacker gained access to her phone number and started messaging on group chat, everyone believed her to be her because it's her phone number, she started acting very weird saying she needed help that something happened at work and she needs money urgently.

Before I was able to be the alarm raiser my mother's two sisters already sent money to this fraudster, the account sent money to is an online bank account, and she asked me for USDT, I almost fell for it because my aunt knew that I was into crypto trading and investing but with the way she texted I knew it wasn't her.

I kept asking how the attacker knew that I am into crypto, that's when I make up my mind that this is a sim swap attack, every past messages I had with her will be revealed to the attacker.

I called my aunt second number to verify and she was shocked, she doesn't even know that something like that was going on, I ran back to the group to stop others from sending money, but it was too late, she lost some money she left on Binance exchange and luckily her bank account was running on the second phone.

This is exactly why using phone numbers for exchanges and 2FA is risky. Email + app-based 2FA is way safer imo. Glad you caught it before sending anything

a new knowledge i am not privy to. I do not know that using phone numbers to register any exchange ms online do cause any negative effect or pose you a risk. I am just hearing it for the first time but I wil make sure that I heed to the advice myself and also study it cause how how it can be corrected.

[7juju]

Like the person who attacked your aunt phone number already knew she has Binance account or she does crypto as well? If so it is someone very close to the family, because make it make sense to me that some get access to your SIM and already knew the exchange you used it to register account? Binance is not like other exchanges that send unwanted notifications to phone numbers. If not for OTP during withdrawals or password change you won't be getting any notifications from what I have observed with Binance. And Binance will definitely ask you for more than one verification method during withdrawals. I know Google authenticator is always needed and you can't reset Google authenticator with just phone number. You guys should ask your aunty some questions what really happened. Don't make Binance security appear so poor, have been using them for years I know what I am talking about.

[Lucius]

If at all possible, never use your main email/mobile number to register for any cryptocurrency-related services, much less for 2FA. In some countries, mobile operators do not care too much about security, so scammers can easily perform a SIM swap, and the first indicator that this has happened is that the phone with the original SIM loses the network (logically, because SIM 1 has been canceled).

OP, if you're wondering how the scammer knew you were involved in cryptocurrencies, the reason is probably that you or someone close to you talks about it too much to people who shouldn't be told such things. You tell your aunt, she tells some nephew, he tells his neighbor, he tells the salesperson in the store, and she tells her son who doesn't do honest things in life.

[tbct_mt2]

OP, if you're wondering how the scammer knew you were involved in cryptocurrencies, the reason is probably that you or someone close to you talks about it too much to people who shouldn't be told such things. You tell your aunt, she tells some nephew, he tells his neighbor, he tells the salesperson in the store, and she tells her son who doesn't do honest things in life.

Telling other people that we have bitcoins, cryptocurrencies, and we are Bitcoin investors, cryptocurrency investors is a very dangerous action. It destroys our privacy and secret of our investment, and we can not control other people from thinking to action. They can do bad and dangerous things against us like physical attacks.

When such attacks come, we can face with physical damages, even lose our lives, so if we can prevent it, why don't secure our privacy better. Privacy maters and is very important, it's never too late to live a private life.