BE CAREFUL WITH YOUR TELEPHONE NUMBER!

Phone numbers are becoming a tool to steal cryptocurrencies

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Among the options to avoid the theft by hackers, the periodic change of passwords, the identification of two factors through Google and maintain a profile in social networks are counted. Through the telephone numbers, digital currency thefts amounting to one million US dollars have been registered.

Hackers have discovered that the easiest and most direct way to steal cryptocurrencies is to steal phone numbers first.

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An increasing amount of online crime begins when hackers persuade cell phone companies to transfer the victim's number to their own device. In many cases, this allows the hacker to reset account passwords that use the phone number as a backup security measure that allows access to email accounts, social networks and cryptocurrencies.

However, many of those who have been hacked in this way are reluctant to admit that the crime was very successful. An example is the case Joby Weeks, who lost his telephone number and, later, one million US dollars in cryptocurrencies was stolen from his accounts. This despite requesting that his phone company add additional security measures after his wife and parents were robbed of his number.

"Everyone I know in the cryptocurrency space has had their phone number stolen"

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Hackers seem to focus on those who are most active on social media platforms related to the cryptocurrency trade. The experts that provide advice in forums and even consultants that appear in the main media talking about investment have been successfully located through this method.

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Improve your security

This eruption of phone number thefts is the unintended result of what was supposed to be a security update known as two-factor authentication. Many email and financial services providers require that phone numbers be added to passwords to verify the identity of users.

Service providers have been charged with updating their own security measures including more complicated PINs and adding complex security questions as a requirement for making changes. The problem is that customer service agents are still free to allow changes on a case-by-case basis

"These guys will sit down and call 600 times until they get an agent who will," Weeks said

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There are many steps that anyone can take to make the accounts hacker-proof.

Add a password to mobile phone accounts.
Create an email address specifically for use with cryptocurrency accounts.
Use a phone number for cryptocurrency accounts that you do not use for anything else.
Enable the identification of two factors with the Google authenticator, not with SMS text messages.
Change passwords frequently and never use it in multiple accounts.
Probably, the two most important ways to protect cryptocurrencies are to keep them first in a secure multiple-signature wallet (offline) and keep a low profile online about your business.

In the end, no precaution can stop dedicated hackers if they really want to access the information. The goal is to become a less attractive target.

Source: NewsBtc