The Dangers Of Sim Swap to Crypto

Why Your Cellphone Shouldn't Be Used For Crypto And The Dangers of SIM Swapping.

By TiddyBit | Stonks | 13 Feb 2021

Cellphones are a technology that makes just about everything easier. From being closer in contact by a simple phone call, text, video and more but they should only be kept to a minimum when used for crypto and I will tell you why in what happened to me and how I lost crypto to a Sim Swap.


How Does Sim Swap Happen?

Sim Swap Crypto Danger

Sim Swapping

A sim swap is when a bad character copies a phone number and tricks cellphone networks into thinking they have a new sim with your number and renders your phone unable to use the network in most cases. Sometimes they are able to trick a carrier into thinking they are you to activate the new phone, device or sim card. There is usually ill intent involved from stealing information to getting into emails. No one is really exempt from this when they use a cellphone.

Hacking Emails

Many emails link your cellphone to its password resetting. Yahoo is one of these but there are several out there that you can do this. Basically once they sim swapped your number to them and they are in control they can now reset your email passwords by having it text messaged to them and you will never know about it. once the reset code is sent and they changed the password they are in control of your email as well. Now they will be able to see any accounts that email you and can access them too by resetting those passwords sent  to that email.

Hacking Accounts

As mentioned the sim swap hackers now have access to your phone number and emails. Now they can use that hacked email to reset any accounts passwords by having its reset method sent to either by email or to the phone number. If these accounts are accessed by this method probably shouldn't be used. You should use ones with the likes of Google Authentication code.

Sim Jacker Danger to Crypto

The Dangers of Screenshots, Photos and Apps.

On top of sim swapping dangers that  are posed to cellphones and devices of the like. Screenshots and Photos can be also dangerous. You should NEVER take a screen shot of your private keys or take a photo of them as a storage method. Why? there are many apps that can access your camera rolls and photos like screen shots as a "required" method or permission. this can be viewed as a backdoor method by not only those app developers but others who could find a way through security or rather unsecured methods. Not only do you have to worry about those photos on you phone but many people have all their photos uploaded automatically to the cloud. The cloud isn't a secure method to store files that you want to be kept secure either.Imagine taking a screen shot of the key you just generated and its automatically updated to say Google Drive. If you share your pictures to people from your drive people could get access to these keys.

Text and Phone Call Phishing.

Hackers can find your number by several ways. One of them is by cold calling or texting. This method involves phishing for a response. They will attempt to dial or text an array of numbers in search for a response. Never answer a text or phone call that you dont know. I personally dont answer a number I dont know and let it go to voicemail. While they can find out if the number goes to someone and can add it to a list it helps to avoid a phishing scam out there. When you respond to an unknown text there is a hack out there that has your phone send private information to the person phishing.  Example would be Sim Card data, carrier, sim code, etc. once they have this they can sim swap you phone number.

There is also another phishing scam along with this that is applied to other things not associated with crypto but more towards subscription scam or payment scam. Where the cold caller tried to get you to say words like "Yes" or "I accept" just to name a few. The method is deployed while recording your voice in a manor that would go along with calling your carrier or subscribing for a service. They will use your number to subscribe to a service while using your voice to authorize by saying "Yes" to or "I agree" to terms over the phone. The scammers when successful will get the service for free by charging it to you.

My Unfortunate Story

There comes a time after something bad happens to you where you have accepted it and can now move on. For me it was a long battle. I have been accumulating Bitcoin (BTC) for a while. Small amounts when I can to a few hundred here and there. I had accumilated just over $1,000 USD worth of Bitcoin. At the time of all of this Bitcoin was still trading up and down from $6,500 to $8,000. I had moved most of my crypto at the time off of Coinbase and if you are aware of their schnanagins then you already know why. But at the time I hadnt moved everything off of Coinbase I had left KBC and BTC. I had planned to move them later in the week as I wanted to buy more before I pulled out. However I was not going to be able to withdraw. I not only lost BTC off of Coinbase but others as well. I woke up one morning to find out through multiple methods that I was hacked and liquidated of Bitcoin. I was destroyed and utterly in panic mode. I was able to contact Bitrue and had them Lock my account to keep it secure untill I was able to resolve my security issue.

I woke up to find that Tmobile sent me an email saying that they successfully transferred my sim number over to a new sim card and new device. I wasn't able to call them till 4 hours or so after waking up due to the fact that they had changed thier hours due to Covid 19 and that I wake up at 3am for work. Also received an email from Yahoo saying that new authorized device and password change. Then came the emails from Coinbase saying Transfer of funds had been made and new logins. Like I said before while this was happening I was able to contact Bitrue and have it locked, no selling or buying and no withdrawing until I secured everything. 

I was able to email Coinbase, however they weren't very helpful at all. With it being an unauthorized transfer and from a new device you think they would be helpful however they were not. They instructed me to create a new account to which I did however the restricted both and I am no longer able to buy or sell crypto on Coinbase.

Tmobile was further not helpful at all. I had to deal with several individuals and have it escalated to fraud department and an attempt for compensation was met with many unknowns and internal emails from the customer service rep to higher ups. Which was met with that they would not compensate me as I could not prove I had Crypto or that it was lost. They did not alert authorities to this, everything was done internally and very poorly.

I have 0.13 BTC (about $1,060 worth at the time now worth over $6,000 at current $47,000 btc price) stolen from me not by a mistake by me in any way but the horrible security within Tmobile. They claimed they did not know how the swap had happened and that the authorization did not have any name or sales ID attached to it that it magically went through. 

I wrote to my anchorites and they stated that it is out of their jurisdiction.

Dont make the mistake in using your cellphone for your crypto needs.


I have learned from my mistakes, I hope that you will take some of what happened to me and use it so it wont happen to you

My new BTC wallets

Default:  NA  Legacy: NA   Attached are Screenshots of events. 3bc25fae740717c27c82b353c4c1ed7c5eb494c2f0dbd3b8ef24448288e5bbb8.jpg11bc5d4a3562c826f14b17defebdd60aa09ef412cc06f63c520991d1fb13c5b2.jpg2e3d15d4c2cc11cf0b7313940f31acf1a99a1d6e3b1904781a47cdabdacbfce4.jpgPhone hacker usedc4e6e8f46d89062ff02722af363192fb20d642b1bc85d3baf57c11e6b80ea004.jpg


If you would like to see the transactions by the hacker. The hackers Bitcoin wallet used.

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