SIM Swapping

SIM Swapping is a form of account takeover that exploits the mobile carrier to hijack a victim’s phone number. By social engineering telecom representatives or using corrupted insiders, attackers transfer service to their own devices to intercept SMS-based Multi-Factor Authentication (MFA) codes. This technique bypasses traditional security to compromise crypto wallets and enterprise networks, marking a critical shift toward the need for hardware-backed identity verification.