SIM Swap Attack
Attackers convince your mobile carrier to transfer your phone number to their SIM card, allowing them to intercept SMS-based 2FA codes and access your crypto exchange accounts.
How This Scam Works
The attacker gathers personal information about you (name, address, last 4 of SSN) from data breaches, social media, or social engineering. They call your mobile carrier pretending to be you and request a SIM card replacement or number transfer. Once they control your phone number, they receive your SMS-based 2FA codes, reset passwords on your exchange accounts, and drain your funds. The attack can happen in minutes, and you often don't realize until your phone loses signal.
Red Flags to Watch For
- Your phone suddenly loses cell service for no apparent reason
- You receive unexpected emails about password changes or new logins
- You get notifications about 2FA code requests you didn't make
- Your mobile carrier sends you a SIM change confirmation you didn't request
- Calls from unknown numbers asking for personal verification details
Common Phrases Scammers Use
“This is a technical attack — there are no scammer phrases to watch for”
“The attacker impersonates you to your carrier's support staff”
“Social engineering of carrier employees is the primary vector”
What to Do Right Now
- 1Switch all accounts from SMS 2FA to authenticator app-based 2FA (Google Authenticator, Authy)
- 2Set up a carrier PIN or port-out protection with your mobile provider
- 3If your phone loses signal unexpectedly, contact your carrier immediately from another device
- 4If compromised, contact your exchanges immediately to freeze accounts
- 5File a police report and FTC complaint
What NOT to Do
- Do not use SMS-based 2FA for any crypto exchange or wallet
- Do not share personal details on social media that could be used for verification
- Do not use easily guessable security questions
- Do not delay contacting your carrier if you suspect a SIM swap
How to Report It
- FTC Identity Theft
- FBI IC3
- Your mobile carrier's fraud department
- Local law enforcement
Frequently Asked Questions
How common are sim swap attack scams?+
Can I get my money back after falling for a sim swap attack scam?+
How do I know if a message is legitimate?+
What should I do if someone I know is being targeted by a sim swap attack scam?+
This information is for educational awareness only. It does not constitute legal, financial, or professional advice. If you have been the victim of a scam, contact law enforcement and consider consulting a licensed attorney.
Quick Facts
- Severity
- Critical Severity
- Category
- Technical Exploit
- Prevalence
- Common
- Who Is Targeted
- Anyone using SMS-based 2FA on crypto exchanges, people with public social media profiles, high-value crypto holders
- Red Flags
- 5 identified
Need Help Now?
If you are being scammed right now, stop all contact and payments immediately.