Recently, the most prominent hype sector is the field of SocialFi, and the first hack attack targeting users has occurred. The first and largest platform in this field, Friend tech, was attacked over the weekend through a method called SIM swap attack, and victims lost their assets. SIM swap attacks have become a growing security threat in the cryptocurrency market, and users should be cautious about this.
Friend Tech Passes Its First Test
SMS messages sent to users’ phone numbers were not sent by Friend tech for the SIM swap attack, but until this situation came to light, the attackers became owners of thousands of dollars worth of Ethereum. In this breach, users’ assets are not at risk, but it is important not to trust the received SMS messages.
As known, Friend tech emerged as a social media platform where users connect their X accounts and engage in “key” trading. On this platform, people who want to chat with influencers in private chat rooms can do so by purchasing a “key”.
SIM swap attacks have recently become widespread in the cryptocurrency market. In these attacks, criminals bypass the security barrier of the operator companies and take control of the victim’s phone. Then, the hacker associates this phone number with their SIM card, and the altered phones are later used for fraudulent activities.
Be Cautious Against Security Attacks
So far, two Friend tech users have been defrauded using this method, and the attackers have seized approximately 42 Ethereum worth about $70,000. A user affected by the attacks warned their followers through their X account:
“If your Twitter account is taken over with your real name, your phone number may be exposed, and this can happen to you too.”
Decentralized social media platform Friend tech has become one of the most popular crypto platforms of the year despite the market experiencing a low volume period. The team has generated significant commission revenue and opened a source of income for its users through the model they created. Just two weeks after the launch, the number of platform users exceeded 100,000.
Despite all these developments, security concerns persist for the platform. Especially with the recent attack, attackers will continue to target this platform using smart contracts or different hacking methods.
