How does sim swapping affect the security of digital wallets in the cryptocurrency industry?

1 answers

• Apr 30, 2022 · 3 years ago
  Sim swapping is a growing concern in the cryptocurrency industry. It can have a significant impact on the security of digital wallets. When scammers successfully perform a sim swap, they can gain access to the victim's text messages and phone calls, which can be used to bypass two-factor authentication (2FA) and gain unauthorized access to their digital wallets. This highlights the importance of using strong and unique passwords, enabling additional security measures, and being cautious of any suspicious activity on your mobile phone or digital wallet accounts.
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