{"id":83461,"date":"2023-08-23T11:46:09","date_gmt":"2023-08-23T08:46:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83461"},"modified":"2025-09-12T11:14:36","modified_gmt":"2025-09-12T08:14:36","slug":"blockchain-capital-executive-loses-6-3m-in-sim-swap-attack","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blockchain-capital-executive-loses-6-3m-in-sim-swap-attack\/","title":{"rendered":"Blockchain Capital executive loses $6.3m in SIM-swap attack"},"content":{"rendered":"<p>Co-founder and managing partner of the crypto fund Blockchain Capital, Bart Stephens, has filed a lawsuit against an anonymous hacker who siphoned off $6.3 million in various digital assets through a SIM-swap. <a href=\"https:\/\/www.forbes.com\/sites\/iainmartin\/2023\/08\/21\/blockchain-capitals-bart-stephens-lost-63-million-in-sim-swap-crypto-hack\/\">Forbes<\/a> reports.<\/p>\n<p>According to court filings, in May the attacker used publicly available information about Stephens to bypass the mobile-carrier&#8217;s security checks and change passwords on his accounts.<\/p>\n<p>The hacker then ported the victim&#8217;s mobile number to a SIM card on a new device. This allowed him to reset passwords and bypass two-factor authentication on several of Stephens&#8217;s crypto wallets, granting him full access. In total, he withdrew $6.3 million.<\/p>\n<p>The hacker also attempted to steal $14 million in Bitcoin and Ethereum from the victim&#8217;s cold wallet, but was blocked by an employee of Blockchain Capital who received a transaction notice.\u00a0<\/p>\n<p>The mobile carrier confirmed the SIM swap the day after the theft.<\/p>\n<p>About half of the stolen assets were transferred by the hacker to cryptocurrency mixers.\u00a0<\/p>\n<p>According to FBI estimates, SIM-swapping is becoming an increasingly common form of attack. In 2022, attackers using it collectively stole <a href=\"https:\/\/www.ic3.gov\/Media\/PDF\/AnnualReport\/2022_IC3Report.pdf\">$72 million<\/a>.\u00a0<\/p>\n<p>As reported in March 2023, a married couple <a href=\"https:\/\/u1f987.com\/en\/news\/texas-couple-sentenced-in-san-antonio-for-250000-cryptocurrency-fraud\">were found guilty<\/a> in cryptocurrency fraud via a SIM swap totaling $250,000. They were sentenced to varying prison terms and ordered to pay $282,000 in compensation each.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Co-founder of Blockchain Capital Bart Stephens filed a lawsuit against the hacker who stole $6.3 million in various cryptocurrencies through a SIM swap.<\/p>\n","protected":false},"author":1,"featured_media":83462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1946,1162,44,26],"class_list":["post-83461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-capital","tag-court-cases","tag-cybercrime","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83461"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83461\/revisions"}],"predecessor-version":[{"id":83463,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83461\/revisions\/83463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83462"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}