SIM swap drained
your crypto?

How SIM Swap Attack works and what we do

How SIM swaps work: The attacker convinces your mobile carrier (through social engineering, bribed employees, or identity fraud) to transfer your phone number to their SIM card. They then receive your SMS verification codes, reset your exchange passwords, bypass 2FA, and drain your accounts — often within minutes.

Multiple liability parties: SIM swap cases are unique because there are multiple potentially liable parties: the attacker (criminal liability), the mobile carrier (negligence in allowing the swap), and potentially the exchange (if their security should have caught the suspicious login). We pursue all available recovery channels.

Evidence to preserve: Call your carrier immediately to report the unauthorized SIM swap and get it reversed. Save all records of the swap (carrier communications, timing). Screenshot your exchange activity logs showing the unauthorized access. File a police report — mobile carriers cooperate more with law enforcement requests. Do NOT just change passwords and move on — the fund tracing window is time-sensitive.

• Social engineering: Attackers gather personal information about the victim (phone number, carrier, address, SSN) through data breaches, phishing, or social media. They then contact the victim's mobile carrier posing as the victim and request a SIM transfer to a new device.
• Insider access: Some SIM swap attacks involve bribed telecom employees who transfer the victim's number to a SIM controlled by the attacker without proper verification.
• 2FA interception: Once the attacker controls the victim's phone number, they receive all SMS-based 2FA codes. They use these to reset passwords on crypto exchange accounts, email accounts, and other services.
• Account takeover: With email access (via SMS 2FA reset) and exchange access (via SMS 2FA), the attacker changes passwords, disables authenticator-based 2FA, and withdraws all crypto to their own wallets.
• Timing: SIM swaps are typically executed late at night or on weekends when the victim is less likely to notice and when carrier fraud departments are understaffed.

SIM swap attacks are time-critical — the attacker has full access to your phone number and can reset any account that uses SMS 2FA. Immediate steps: (1) Contact your mobile carrier IMMEDIATELY — report the unauthorized SIM transfer and request reversal. Use a different phone (the attacker controls your number). (2) From a trusted device, change passwords on ALL accounts — email, exchange, banking, social media. (3) Disable SMS-based 2FA on all accounts and switch to authenticator app (Google Authenticator, Authy) or hardware key (YubiKey). (4) Contact your crypto exchange's compliance team with details of the attack and request a freeze on withdrawals. (5) File a police report — SIM swapping is a criminal offense. (6) Contact us — we trace the stolen funds and send emergency freeze requests to exchanges where the funds may be heading. (7) Document everything — carrier communication records, transaction hashes, and timeline of events.