Friend.tech has introduced an array of new features, empowering users to manage and modify their login methods on personal accounts. This move comes in response to the alarming surge in SIM swap attacks that had granted malicious hackers access to sensitive user information.
The decentralized social network, Friend.tech, made waves in the social media sphere with the unveiling of a cutting-edge feature. This feature provides users with the ability to both add and remove various login methods associated with their accounts. The announcement came on the heels of numerous reports detailing the distressing rise in SIM-swap attacks. On the 4th of October, Friend.tech made these settings conveniently accessible through their app interface, requiring users to simply tap on their wallet balance to initiate any changes.
In their official statement, the platform addressed the queries pouring in from users regarding the absence of a two-factor authentication passcode feature. Friend.tech explained that the current implementation of this feature could potentially lead users to inadvertently lock themselves out of their accounts. In response, the platform has actively collaborated with Privy, the third-party service provider responsible for implementing privacy features. Friend.tech stated, “Privy is diligently working on the necessary updates, and we will seamlessly integrate this feature as soon as they finalize their work.”
During a Q&A session held on the 2nd of October, several Friend.tech users voiced concerns about the absence of passcode confirmation prompts. Additionally, some users reported issues with passcode resets when typed incorrectly. These concerns were echoed by users who had already found themselves locked out of their accounts.
One user raised a crucial concern – despite replacing their phone number with an alternative authentication method, active sessions on other devices were not automatically logged out. This raised the troubling possibility that hackers could still maintain unauthorized access.
These critical updates came in response to a series of exploits that rattled the platform on October 4th. Users reported alarming compromises to their accounts, stemming from malicious hackers taking control of their mobile numbers – a tactic commonly referred to as a SIM swap attack. As per reports, the attackers managed to siphon over 100 Ether in just a week.
The exploits persisted into October 5th, with the malefactors behind these breaches successfully amassing a staggering sum of at least $385,000 worth of Ether. All of this transpired in the wake of Friend.tech’s remarkable revenue surge, marked by a substantial influx of 10,663 ETH and a remarkable total value locked exceeding 30,000 ETH.
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