Adversaries may gain access to mobile devices through transfers or swaps from victims’ phone numbers to adversary-controlled SIM cards and mobile devices.(Citation: ATT SIM Swap Scams)(Citation: Verizon SIM Swapping)
Adversaries may gain access to mobile devices through transfers or swaps from victims’ phone numbers to adversary-controlled SIM cards and mobile devices.(Citation: ATT SIM Swap Scams)(Citation: Verizon SIM Swapping)
The typical process is as follows:
Adversaries may use the intercepted SMS messages to log into online accounts that use SMS-based authentication. Specifically, adversaries may use SMS-based authentication to log into banking and/or cryptocurrency accounts, then transfer funds to adversary-controlled wallets.