Sim Swapping
By Cryptomcmillan1 | Updated on May 24, 2020
It is a tactic where hacker overtake the mobile phone to exploit the two-factor authentication and two-step verification. Once the hacker gotten hold of the victim's mobile phone number, they could proceed to convince the telco company to migrate the victim's phone number to the hacker's number. Otherwise, they could also intercept any authentication and verification number via text messages or mobile phone and bypass the security of personal accounts such as bank accounts and social media accounts.
Related Terms
Option
It is a financial instruments that refers to a contract offers the buyer the right to buy or sell an underlying assets at a specified price and time.
Public Blockchain
An open sourced blockchain where participation is public and permissionless
Salt (cryptography)
In cryptography, a salt is the additional random input that is added to password or passphrase to make the password hash unique. It prevents from the hashed output password to be cracked so easily by the hacker.
Token Generation Event (TGE)
An event in which new tokens (ussually on a smart contract platform) are created and distributed to the public.
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