Nicole Sette, Director in the Cyber Risk practice of Kroll, a division of Duff & Phelps, enlightened users through a controlled simulation of fraud enabled through SIM swapping. However, with further inspection, Nicole highlights how bad actors can use hijacked phone numbers like a set of keys to unlock the online world of crypto accounts.

With the alarming rate of attacks on cryptocurrency exchanges over the past year, Nicole’s article in Darkreading traces the vulnerability of crypto accounts to SIM swapping and email providers' variable implementation of two-factor authentication. She offers best practices to employ and advocates for a more secure application-based two-factor authentication to reset a password, such as Social Security numbers or security questions.

Read the full article here.

 
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