Hacker Uses SIM Swapping To Hack Accounts On BlockFi, But Fails

The review report published by the crypto trading platform, on May 18, explained that while making an attempt, the hacker took control over the phone number of BlockFi’s employee and for doing so he used the SIM swapping technique. After that, he changed the password of the employee’s email account. This helps the hacker gain access to employee’s personal account and official email account on BlockFi platform.

Hacker Remained On BlockFi For 86 Minutes

For around 86 minutes the hacker had access to the platform, during that time he made multiple attempts to steal the customer funds from the BlockFi platform but failed continuously.

In its report, BlockFi further mentioned, “Every action the unauthorized third party took with respect to our systems was logged, and BlockFi was able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information were exposed as a result of this incident”.

Although the hacker was not able to steal fund, it still found a way to get access to client information of BlockFi, which is used for retail marketing.

Hacker Get Access To BlockFi Client Information 

The client information has some details like the name which has been recorded on the account, email address of the client, their date of birth, address and the history of their activity.

But the company claimed that the kind of information that has been leaked from the platform could not be a risk for the trading platform’s client or funds.

Now, the BlockFi has advised its users to implement multi-factor authentication solution to their accounts and also to activate a wallet whitelist.

The wallet whitelist feature would help the users to prevent their account from hackers. If the feature would be integrated on users’ account the hacker would not be able to transfer funds to some different accounts.

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