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
HODL
A crypto slang of saying holding the assets rather than selling it.
A crypto slang encouraging investors to hold on to their assets rather than selling it.
Airdrop
A way to promote cryptocurrencies by sending some free tokens to traders
Proof of Work (PoW)
A consensus algorithm in which a block is validated via mathematical hashing
When Moon
An expression used by investors to ask when the price of a coin would hit a peak
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.