More than $50 million in cryptocurrency has been stolen from U.S. personal wallets in the last 15 months, partly helped by a new hacking technique using switched SIM card identities. Five hackers aged between 18 and 26 have been arrested and charged with stealing cryptocurrency since the start of last year, a leading cyber cop told the New York Post.
Sami Tarazi is a supervisor at Silicon Valley’s Regional Enforcement Allied Computer Team, or REACT. His team has caught some of these cyber thieves by identifying an inherent weakness in their method. By relying on cell phones, their messages can be traced geographically to signal towers.