Mystery solved: $400M FTX hack carried out by SIM-swap gang that impersonated female exec

Amid all the drama surrounding the fall of FTX, the story of a major hack during the doomed exchange’s final hours in November of 2022 was nearly forgotten. Now, though, an FBI affidavit and cybersecurity experts reveal that was it not an inside job, as was suspected at the time, but that hackers who specialize in hijacking cell phones were responsible for stealing over $400 million. Meanwhile, evidence suggests the U.S.-based phone hackers had ties to Russian crypto thieves, and that the criminals pulled it off by targeting the account of one of the handful of top female executives at FTX.

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