ZachXBT: In the past 4 months, SIM swapping incidents targeting crypto users have resulted in the theft of 13.3 million dollars. Do not use SMS two-factor authentication

ChainCatcher news, on-chain detective ZachXBT tweeted that in the past four months, there have been 54 SIM swap incidents targeting users in the cryptocurrency space, resulting in over $13.3 million stolen. When accounts are compromised, scammers create a sense of urgency through fake claims to drain your assets.

ZachXBT advises against using SMS two-factor authentication (SMS 2FA) and recommends using an authenticator app or security key to secure your accounts.