Blockchain Capital co-founder suffers SIM swap attack, losing $6.3 million in cryptocurrency assets

ChainCatcher news, according to Forbes, co-founder of the crypto venture capital firm Blockchain Capital, Bart Stephens, suffered a SIM swap attack in May of this year, resulting in the theft of $6.3 million worth of Bitcoin, Ethereum, and other cryptocurrencies.

It is reported that SIM swap attacks typically rely on hackers manipulating or using "social engineering" to deceive mobile network customer service operators into disclosing the victim's personal information. The hackers then use this information to pass security tests and transfer the victim's phone number to a new SIM card and phone that they control.