Cyber attacks upon the cryptocurrency industry are nothing new. Widespread threats on attacks and real attacks have been predominant in the industry. In spite of all this, the U.S. Federal Bureau of Investigation (FBI) has issued a warning for the whole crypto industry regarding possible attacks this week.
FBI’s Warnings
The U.S. Federal Bureau of Investigation (FBI) has issued a warning regarding possible ethical hacks and cyber attacks upon the cryptocurrency industry. The FBI states there are many threats actively taking place on many crypto exchanges and cryptocurrency holders.
These threats are possible to bring forth attacks on many virtual digital assets platforms. Furthermore, the FBI warns of serious financial losses, account thefts, and the possibility of complete stealing of entire crypto holdings.
In addition, the FBI has passed over this information widely in accordance with the Traffic Lights Protocol (TPL). The Cybersecurity and Infrastructure Security Agency has issued a ‘Greenlight signal’ through the TPL attribute. Accordingly, this warning will be passed over to many of the prominent companies and their parent organizations of the crypto industry.
Moreover, the FBI states various groups are actively tracking all the possible drawbacks and easy attack points of most prominent crypto platforms and exchanges.
In spite of all this, the FBI requests all crypto holders to at least use the two-way factor authorization for security reasons. Also, they have asked not to post or share any certain personal crypto-related information on social media.
The Sim Swapping Attacks
Sim Swapping is the most effective means of ethical hacking and attacking the industry.
However, this sim swapping technique is quite difficult to track though. These sim swap techniques are usually carried out in two methods.
On one, the identity of the person is easily stolen and further, a tech-rep guy represents that person and protests upon a new sim stating the old one’s lost. This further enables them to get hold of a new sim card to carry out all the other theft activities proficiently.
On the other hand, the second method involves the help of network operators. From them, new sim cards of the same number are on hold of the attackers. And thus they actively perform the attack on the victim with a new sim with the same number of that of the victim.
On the contrary, the FBI is on many active tasks to prevent such sim swap hacks and promote security for all those involved in the crypto industry.
