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$45 Million Stolen From Investor’s Mobile Phone via SIM Swap Attack

THIS IS REALLY BRUTAL

A Chinese investor became the victim of theft attack, called SIM attack, and lost nearly $45 million. Hacker accessed the investor’s mobile phone data and stole crypto assets: Bitcoin Cash (BCH) worth $30 million and Bitcoin worth $15 million.

On Feb.22, it is revealed through a Reddit post that the victim was the founder of Dreamhost, Josh Jones, who tried to reverse the transaction but failed. He asked for help from BCH miners though a post that is now deleted.

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He requested:

‘’It’s only had 3 confirmations, if any miners/the community can help somehow, I’ve got the private keys. Help help help.. Big reward obviously.’’

Wan Criticism over Sim Attack

The founding partner at Primitive Ventures Dovey Wan took to Twitter after the event and passed mixed comments.

‘’This is the dumbest thing ever,’’ she said while criticizing Jones that how a person stored such a big amount of crypto assets in the mobile wallet.

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In her series of tweets, she also reported that the hacker is trying to split the amount so that it became impossible to trace the record of transactions. ‘’It seems the hacker is now splitting the BTC into smaller amounts and may enter into mixer soon,’’ she said.

BCH in Critical Condition

The recent SIM hack made the situation serious for the survival of cryptocurrency, Bitcoin Cash (BCH). In the past, the BCH community has also faced very critical events that put the cryptocurrency towards the dead end. For instance, the 2018 hard fork resulted in the creation of another fork coin called Bitcoin Satoshi Vision (BSV).

Recently, chief executive of the giant mining pool Jiang Zhuoer proposed a tax model in which he stated that miners of BCH will have to pay 12.5% of their rewards as a result of mining. According to him, the initiative will boost the ecosystem of the cryptocurrency. Per Zhuoer’s plan, the new proposal will run from May 15 onward through a soft fork.

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However, the CEO of Bitcoin.com has not signed the new BCH tax proposal as he informed the community about his stance through the Youtube session.

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Tokenhell

Tokenhell is a blockchain & crypto news agency where you can discover all the recent news about cryptocurrency and blockchain.

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