Several high profile Twitter accounts have been hacked by using a method called SIM swapping.
A SIM swap scam is a type of account takeover fraud that generally targets a weakness in two-factor authentication and two-step verification in which the second factor or step is a text message or call placed to a mobile telephone.
As reported @zachxbt, “Over the past few weeks we have seen 8+ account takeovers connected to the same group of scammers as evident by how their addresses are linked on-chain.”
The compromised accounts are from high-profile individuals which allowed the hackers to used them for scams involving crypto.
These scams involve the Airdrop scam, which try to ensnare as many cryptocurrency users as possible. No matter how obscure your digital currency of choice is, or how unusual your wallet is, there’s a scam just waiting for you.
What can you do to protect your account?
Never enable SMS 2FA on your accounts and use a security key instead. While the majority of these attacks were the result of a SIM Swap it seems other accounts were potentially stolen with a panel.