US Department of Justice says FTX's missing $400 million was stolen in SIM swap attack
According to Bloomberg, the U.S. Department of Justice (DOJ) said that the $400 million missing from FTX was stolen due to a SIM card swap hacking attack. Three people have been charged with planning a SIM card swap scam that misappropriated more than $400 million from FTX.
According to an indictment filed in federal court in Washington, the trio collected the personal data of about 50 victims and used the information to convince cell phone providers to transfer the victims' phone numbers to their virtual phones, in the process allowing interception SMS text messages, including multi-factor authentication codes, which allowed hackers to compromise victims’ financial accounts and crypto wallets. It is reported that FTX was not mentioned in the indictment, but two people familiar with the matter confirmed in court documents that FTX was actually "one of the victim companies."