SIM swapping
In short
In SIM swapping, an attacker takes over your phone number by deceiving the mobile carrier. They then intercept SMS codes and can defeat two-factor protection and account recoveries that run over SMS.
That is why SMS is the weakest form of two-factor authentication. App-based authenticators or hardware security keys are safer. For crypto accounts, SMS 2FA should be replaced by stronger methods where possible.
How do I protect against SIM swapping?
Replace SMS 2FA with an authenticator app or hardware key, and set an extra account lock or PIN with your mobile carrier.
Related terms
Information, not investment advice. More of this? The newsletter.