The crypto-based social media platform, FriendTech, has introduced email verification as an option to enhance user security following a series of SIM swap attacks.
In these attacks, hackers gained control of users’ phone numbers, use it gain access to users social media accounts, financial accounts, and evan crypto accounts.
SIM swap attacks involve convincing phone companies to transfer a victim’s number to a new SIM card controlled by the attacker. Once in control, hackers intercept calls and messages.
FriendTech recently experienced six reported attacks, resulting in cryptocurrency losses. On October 3, two incidents led to a $70,000 loss, and four more incidents in the past day resulted in approximately $385,000 in losses.
Attackers targeted specific FriendTech users by accessing phone numbers from user profiles linked to blockchain data. This allowed them to execute SIM swaps using information from previous data breaches and platform profiles.
FriendTech also revealed why they havent enabled Privy’s 2FA passcode feature yet, which has been suggested by many to them on X.
FriendTech discoeverd Privy’s UX does not instruct users to confirm their passcode. If a user mistypes it, neither Privy nor http://friend.tech can reset it.
So if they add 2FA at this moment, many users will permanently lock themselves out of their account by mistake. They assured that recommendation for safer UX has been made and once Privy implements them. FriendTech will integrate the 2FA feature to enhance security.