Former telecom manager admits to doing SIM swaps for $1,000
Former telecom manager admits to doing SIM swaps for $1,000
A former manager at a telecommunications company in New Jersey pleaded guilty to conspiracy charges for accepting money to perform unauthorized SIM swaps that enabled an accomplice to hack customer accounts.
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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
And he’s just the one who got caught.
The FBI received 1,600 complaints about SIM-swapping in 2021, a sharp increase from the three previous years.
This guy was only guilty for 5.
Most incidents seem to be from social engineering tech support though. No manager needed.