Is simswapping a common threat in the cryptocurrency industry?

3 answers

• Mar 18, 2022 · 3 years ago
  Simswapping is indeed a common threat in the cryptocurrency industry. It involves hackers gaining control of a person's phone number and using it to gain access to their cryptocurrency accounts. This can lead to significant financial losses if proper security measures are not in place. It is crucial for cryptocurrency users to be aware of this threat and take necessary precautions to protect their assets.
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• Mar 18, 2022 · 3 years ago
  Simswapping is a serious security concern in the cryptocurrency industry. Hackers have been known to target individuals with large cryptocurrency holdings and use simswapping techniques to gain unauthorized access to their accounts. This highlights the importance of implementing strong security measures, such as two-factor authentication and using hardware wallets, to mitigate the risk of simswapping attacks.
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• Mar 18, 2022 · 3 years ago
  Simswapping has become a prevalent threat in the cryptocurrency industry, affecting both individual users and exchanges. At BYDFi, we prioritize the security of our users' funds and have implemented stringent measures to prevent simswapping attacks. We recommend users to enable two-factor authentication, regularly update their contact information, and be cautious of any suspicious activities or requests related to their cryptocurrency accounts.
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