A sharp increase in SIM swap cases has been recorded in Russia amid the proliferation of two-factor authentication and cryptocurrency transactions. According to analysts, attackers are exploiting vulnerabilities in the identification procedures of telecom operators to gain control over victims' numbers. This opens access to bank accounts, crypto wallets, and correspondence.
The attack begins with the collection of personal data through phishing sites that mimic the pages of mobile operators, or phone calls from fake "support staff." The goal is to obtain the victim's passport data and address. The next step is to contact communication stores or operator contact centers with forged documents to replace the SIM card. In some cases, minimal information is sufficient for a successful substitution due to the lack of multi-factor authentication.
After intercepting the number, attackers receive SMS codes to log into banking applications, confirm transactions, or access crypto exchanges. Restoring control over the number can take days, which increases the risk of financial losses.
The most vulnerable are owners of cryptocurrency assets and users who actively manage finances through mobile applications. However, all Russians whose accounts are linked to a phone number are at risk.
Experts advise abandoning SMS authentication in favor of applications that generate codes offline, such as Google Authenticator or Microsoft Authenticator. Additional measures include regularly changing complex passwords and enabling biometric verification in financial services.
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