Friend.tech is experiencing a significant decline in Total Value Locked (TVL), recording its largest decline of 7.8% in early October. This indicates a significant decrease in performance.

There have also been significant key redemptions on Friend.tech, and reports of SIM swapping attacks have raised concerns about the network.

The TVL decline on Friend.tech is due to recent and ongoing issues with SIM swapping attacks, which could see scammers making up to $387K in Ethereum.