SIM hijacking:
2FA is a strong security standard, but if you are unlucky enough to become a victim of SIM hijacking, this layer of security means very little. SIM-wapping occurs when a cybercriminal poses as you to a service provider, such as AT&T, using social engineering techniques and information gathered about you to fool employees into transferring ownership of your mobile number.
Once they have secured your phone number, they have a small window of time to hijack online accounts -- such as emails, bank accounts, or cryptocurrency wallets -- before you notice your service has ended. In this time, attackers may be able to access 2FA codes.
AT&T has become the subject of multiple lawsuits centered around customers who allegedly lost millions in cryptocurrency due to SIM-swap attacks.
This type of fraud is difficult to protect against. However, one way to do so is to connect 2FA telephone numbers to a secondary number that is not publicly known and so could only become subject to a SIM-swap if leaked elsewhere.
Read on: Here's how I survived a SIM swap attack after T-Mobile failed me - twice
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