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[Slashdot] - Hackers Plan To Use Stolen Cryptocurrency Exchange Data for SIM Swapping

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Hackers who obtained personal data on users of Canadian cryptocurrency exchange Coinsquare say they plan to use the information to perform so-called SIM swapping attacks, according to one of the hackers. Motherboard: The news shows hackers' continued interest in trying to leverage security issues with telecom-based forms of authentication. In a SIM swapping attack, a hacker takes control of a target's phone number, which then gives them the ability to request password resets for some websites or a victim's two-factor authentication code. Often, SIM swappers will use these techniques to steal cryptocurrency. The breach also signals the continued risk of insider access, with Coinsquare telling Motherboard a former employee was responsible for stealing the data. "The original intent was to sell it [the data] but we figured we would make more money by SIM swapping the accounts," a pseudonymous hacker who provided the Coinsquare data to Motherboard said in an online chat.

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