Think 2FA Makes Your Account Secure? Californian Hacker Hijacked Phone Numbers to Buy Supercars With Bitcoins

Xzavyer Narvaez becomes the first american who hack crypto exchange with SIM swapping. He misled telecoms providers into transferring phone numbers to another SIM card

Thu, 23/08/2018 - 15:46

Think 2FA Makes Your Account Secure? Californian Hacker Hijacked Phone Numbers to Buy Supercars With Bitcoins

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Xzavyer Narvaez, 19, becomes the first US resident to hack cryptocurrency exchange accounts with the help of SIM swapping. He misled telecoms providers into transferring phone numbers to another SIM card in order to bypass 2FA and get direct access to accounts with Bitcoin holdings.

California police report that the hacker has managed to steal more than $1 mln in BTC. Once becoming a millionaire, Narvaez started enjoying the life of luxury by purchasing brand-new supercars, including the 2018 McLaren 720S.

The infamous SIM swapper is already arrested by the law enforcement officials as a result of their cooperation with AT&T.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.