Posted on 05/14/2022 12:14:18 PM PDT by simpson96
TAMPA, Fla. (WFLA) — Dan Clark says his future changed in an instant as his life savings of more than $700,000 vanished.
“My phone said, ‘No service, SIM card.’ And I didn’t even know what a SIM card was,” Clark said.
By the time he found out, it was too late. His phone number had been transferred to a crook’s device, and Clark’s accounts, including his proceeds in investments in cryptocurrency, were wiped out.
“I lost everything in a matter of a few hours,” he said. “Life’s work, a few hours.”
Clark quickly learned he was a victim of a SIM swap, a sophisticated scheme the FBI warns is sweeping the country. In 2021, the FBI received 1,611 SIM swapping complaints representing $68 million in losses to consumers.
The FBI explains that crooks trick mobile carriers to transfer your SIM, basically your phone number, to a device they control — either by impersonating you or, in some cases, paying off a phone carrier employee.
Clark’s case is currently under investigation by the FBI. T-Mobile confirms his SIM was swapped numerous times — even after he regained access to his phone and asked for an alert on his account to stop swaps.
T-Mobile has not responded to requests for comment from WFLA.
Clark is still hopeful he’ll get his money back. In the meantime, he wants to warn you.
“I want to protect other people from this. It’s a crazy world that we live in. It’s a very fast-paced world that we live in, a very fast-paced electronic world. And like I said, $1,600 cases last year to $68 million, and I am a statistic of that.”
The FBI recommends individuals take the following precautions:
(Excerpt) Read more at fox5sandiego.com ...
Florida man meets crypto: what could go wrong?
If he had asked me, I would have advised him to avoid speculation. But if you can’t avoid it: Diversify.
I feel bad for the guy but crypto is patently a scam. Some sincere honest person always ends up losing everything and that’s how it’s supposed to work.
Keep in mind - these are the same telecom companies that ALLOW base stations to be the identifier for caller ID. It is how scammers/spammers/robocallers can spoof literally ANY phone number when they call you (including your own number!)
Back in the days before cell phones became so ubiquitous - they were assigned their callerID number/identification by the carrier’s own network. As mobile devices became prevalent, these carriers transferred that identity assignment to the devices themselves (that’s a major part of your SIM’s duties). But nefarious types easily spoof those identifiers - without even having a SIM card. They have computer software that simply generates a phone number to use as its identifier - and the carriers don’t have any significant safeguard to validate that info.
The “SIM swap” scam is just the logical (and very lucrative) extension of that same set of mechanisms.
Imagine if your bank allowed any caller to identify as you... by coming up with their own security questions and answers... instead of using the pre-determined security measures you agreed to. That is what ATT, Verizon, Tmoble, and every other carrier has allowed to develop.
That’s why I don’t bank or pay with CC on my cell.
Nothing’s safe. I put bill pays inside PO slot or take to the counter.
(I’ve had to rewrite a couple checks to pay bills because they never got to their destination.) They weren’t cashed at the bank. Just gone. Someone may have the check for info or the (flimsy envelopes may have slid under something. Don’t put checks in my mailbox, either. Can’t win! Just hope they get there.
It wouldn’t matter...the issue is they used 2factor authentication to logon as him once they got his phone # all text validation messages were sent to his phone.
There are better ways to do 2factor authentication. SMS/Text is the worst way.
Fraudsters like that need to be hanged, drawn and quartered.
Great ! The FBI is investigating . If you are a libturd , you get your money back. If you are conservative , they keep it .
Always email for me, they get into my phone they still need to know my password to get into my email, unlike text.
Between the two transactions they've saved me over $25,000 so I'll keep on using them.
I don't mess with crypto, never.
DON’T DO ANY FINANCIAL STUFF ON YOUR PHONE!!!! SIM swaps aren’t the only way they can hack you. Ignoring this principle is just stupid.
For that matter, don’t do any financial stuff using ANY form of online communication, except credit card transactions which are revokable. Don’t use Paypal. either.
Never use the cell phone for anything but phone calls and occasional test messaging. Very rarely use it - it’s really only for emergencies.
However, I’m going to review the paypal statement and try to find some other way to pay for stuff on ebay.
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