SIM Swapping is also called SIM hijacking, refers to an identify theft scheme where in malicious parties persuade phone carries into porting their victims cell services to SIM card under their control, often facilitated the service provider's customer support by posing as the victim and requesting that the phone number be swapped to a SIM card operated by the group.
The goal is to leverage the phone numbers as a gateway to hijack different online services used by the targets such a email, cloud storage and cryptocurrency exchange accounts by resetting their passwords and one-time verification codes that are sent via SMS messages as part of the two-factor authentication (2FA) process, enabling the cybercrime crew to circumvent security measures.
A Sixth member associated with an international hacking group known as The community has been sentenced in connection with a Multi-Million Dollar SIM swapping conspiracy, the U.S. Department of Justice (DOJ) said.
Garrett Endicott, 22, from the U.S. state of Missouri, who pleaded guilty to charges of wire fraud and aggravated identify theft following an indictment in 2019, was sentenced to 10 months in prison and ordered to play an amount totaling $121, 549.37 in restitution.
Thankyou @The Hacker News