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Sim-Swappers Scam $200K Worth Of Cryptocurrency From League Of Legends Star

Being a pro gamer may sound easy but it is actually not. A superstar in League of Legends has had $200,000 in crypto robbed from them directly from their account of Coinbase account.

In a video from YouTube video which Dot Esports spotted, Yiliang “Doublelift” Peng shows how he woke up during one morning in the previous week to texts from his bank informing him that he is overdrawn on his Coinbase account. While the required information of the cyberhack have not been confirmed officially, Peng has his suspicions.

What went down

Peng reports that before the stealing, in previous couple of weeks he had gotten some weird cellphone activities which he now trusts to have been a part of the genius plot of the scammer. Peng states that he was a victimized in “swapping of sim” which is an illegal tactic move use to con carrier employees into giving them access to the victim’s number.

Peng’s mobile provider says that the number was reported as lost or stolen, and could have been swapped. By gaining access to Peng’s mobile number, the scammer could then obtain access to his email and Coinbase accounts. As part of Coinbase two-factor authentication process (2FA) they use phone numbers and the scammer was not blocked from accessing Peng’s account when challenged.

This scam did not actually stop here. The scammer later went on and used an intricate method of email filters which blocked Peng from finding the hack is in motion.

The emails that proved the Coinbase transactions made to the inbox of Doublelift were forwarded to a foreign email address which probably could belong to the hacker. Emails were later deleted from Doublelift’s inbox after all this. The process happened so fast that Doublelift did not see any of the irregular Coinbase transactions.

Crypto scams and how to prevent them

The smartly-planned theft is one of a line of scams that have seen occurring to victims who are tricked out of their crypto. In the previous month, some Finnish millionaire was conned $35 million in a crypto investment that was illegitimate.

You should always put in use the 2FA authentication, but if you notice suspicious activity on your phone, talk to your carrier and ensure your phone number has not been tampered with.

Published by Pamela Garcia

Pamela Garcia is a keen follower of U.S. stock market

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