Police Dismantle International SIM-Swapping Ring Targeting Crypto Investors

Law enforcement agencies in three countries announced coordinated arrests this week after dismantling a SIM-swapping gang blamed for stealing millions in cryptocurrency from high-net-worth individuals. The group allegedly bribed or socially engineered telecom employees to reassign phone numbers to attacker-controlled SIM cards, intercepting one-time passwords and resetting account logins for major exchanges. Victims reported waking up to find their wallets emptied within minutes of the takeover. In response, financial regulators and telecom authorities renewed guidance urging users to move away from SMS-based authentication in favor of hardware tokens or app-based authenticators. The case underscores how social engineering at mobile carriers remains a potent route to bypass otherwise strong online security controls.

30-11-2025