According to Bloomberg, the U.S. Department of Justice (DOJ) said that the missing $400 million from FTX was stolen due to a SIM card swap hack. Three people have been charged with planning a SIM card swap scam that embezzled more than $400 million from FTX.
According to the indictment filed in federal court in Washington, the three collected personal data of about 50 victims and used the information to convince mobile phone providers to transfer victims' phone numbers to their virtual phones, in the process intercepting text messages, including multi-factor authentication codes, which enabled hackers to hack into victims' financial accounts and crypto wallets. It is reported that the indictment did not mention FTX, but two people familiar with the matter confirmed in court documents that FTX was actually "one of the victim companies."