T-Mobile SIM-swapping attack on Kroll employee caused crypto platform data breach

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A recently announced data breach affecting several prominent cryptocurrency platforms was sourced back to a SIM-swapping attack on an employee at Kroll, a financial services company contracted to help the struggling exchanges.

Last week, bankrupt cryptocurrency platforms FTX and BlockFi said Kroll had informed them of data breaches affecting their customers. CoinDesk editor Rob Mitchell reported that another crypto site, Genesis, also privately informed customers of a breach.

Kroll has been hired by all three companies to create a claims administrator platform so they could give users back some of the funds that had been lost during their respective collapses.

On Friday evening, Kroll published a statement confirming the breach, explaining that they were informed on August 19 that a hacker targeted an employee’s T-Mobile account in “a highly sophisticated ‘SIM swapping’ attack.”

SIM swapping, also known as a port-out scam or SIM-jacking, refers to a technique where a threat actor calls a target’s mobile carrier posing as the account owner and requests that the victim’s…

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