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Former telecom manager admits to doing SIM swaps for $1,000 (www.bleepingcomputer.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 16 points 8 months ago (1 children)

For carrying the unauthorized number porting, Katz received $1,000 in Bitcoin per SIM swap (total of $5,000), plus an (unspecified) percentage of the profits earned from the illicit access to the victims' devices.

For his actions, Katz faces a statutory maximum of five years in prison and a fine of up to $250,000 or twice the financial gain or loss from the crime

[–] [email protected] 9 points 8 months ago (1 children)

And he’s just the one who got caught.

[–] [email protected] 9 points 8 months ago

The FBI received 1,600 complaints about SIM-swapping in 2021, a sharp increase from the three previous years.

Source: Wikipedia

This guy was only guilty for 5.

Most incidents seem to be from social engineering tech support though. No manager needed.