Vitalik Buterin Confirms SIM-Swap Attack Led to Hack of X Account
Vulnerabilities in Twitter’s Account Recovery System Revealed
Ethereum co-founder Vitalik Buterin has confirmed that the recent hack of his X account (formerly Twitter) was the result of a SIM-swap attack. Buterin shared the details of the attack on the decentralized social network Farcaster, revealing that scammers successfully socially engineered T-Mobile to gain control of his phone number.
According to Buterin, one of the key takeaways from his experience is the vulnerability of Twitter’s account recovery system. He emphasized that even if a phone number is not used as a two-factor authentication (2FA) method, it can still be leveraged to reset a Twitter account’s password.
Buterin admitted that he had come across advice discouraging the use of phone numbers for authentication in the past, but it wasn’t until now that he fully comprehended the seriousness of the matter. This revelation underscores the security risks associated with relying on phone numbers for authentication, despite prior advice cautioning against it.
The breach of Buterin’s X account, which resulted in victims allegedly losing more than $800,000 due to a malicious link falsely promoting a free NFT, was earlier reported. Additionally, the first publicly-claimed punk NFT, which is possibly the very first ever minted, was also lost in the exploit that took place on September 9th. Dmitry Buterin, the Ethereum co-founder’s father, confirmed the compromise of his son’s account following alerts by prominent on-chain experts.
It is important to address the vulnerabilities in account recovery systems and opt for more secure alternatives that do not rely solely on phone numbers. The use of phone numbers for authentication leaves users exposed to SIM-swap attacks and the potential loss of sensitive information and assets.
Sources:
❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
View J-S Tremblay website
