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.
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.