“I tried to work with coinbase hotline who is supposed to help with this but they were clueless even after I told them that the hackerchanged email address on my original account and then created a new account with my email address. Now Zu’bi is facing a different issue: Coinbase is accusing him of being $3,000 in arrears and will not give him access to his account because he cannot reply from the hacker’s email. So Coinbase is essentially telling me sorry you can’t recover your account and we can’t help you but if you do want to use the account you owe $3K in bank chargebacks,” he said. But because I blocked my bank accounts before they could it seems there are bank chargebacks on that account. “When the hackers took over my account they attempted direct debits into the account. While we can wonder in disbelief at a crypto investor who keeps his cash in an online wallet secured by text message, how many other services do we use that depend on emails or text messages, two vectors easily hackable by SIM spoofing attacks? How many of us would be resistant to the techniques that nabbed Terpin?Īnother crypto owner, Namek Zu’bi, lost access to his Coinbase account after hackers swapped his SIM, logged into his account, and changed his email while attempting direct debits to his bank account.
Armed with that access, the intruders were able to reset credentials tied to his cryptocurrency accounts and siphon nearly $24 million worth of digital currencies. Terpin alleges that on January 7, 2018, someone requested an unauthorized SIM swap on his AT&T account, causing his phone to go dead and sending all incoming texts and phone calls to a device the attackers controlled. This move, which could set a frightening precedent for carriers, accuses AT&T of “fraud and gross negligence.” Terpin is suing the carrier for $224 million. Most recently a crypto PR rep and investor, Michael Terpin, lost $24 million to hackers who swapped his AT&T SIM. Stories about massive SIM-based hacks are all over. The SIM card swap hack is still alive and well and points to one and only one solution: keeping your crypto (and almost your entire life) offline.
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