How SIM swapping led to a $1.8M cyber fraud case

How SIM swapping led to a $1.8M cyber fraud case

The CyberGuy explores SIM swapping, a form of identity theft by which a scammer tricks a mobile carrier into transferring a phone number to a new SIM card the scammer controls.

SIM Swapping Attack Results in $1.8M Loss, Exposing Mobile Security Vulnerabilities

A significant cybersecurity incident involving SIM swapping has resulted in fraudulent losses of $1.8 million, highlighting the ongoing challenges in mobile security and identity verification. The case, reported in May 2025, comes amid a documented 160 percent surge in SIM swap attacks over the past year, as criminals increasingly target this vulnerability in mobile authentication systems. SIM swapping, a technique where criminals convince mobil…

How SIM swapping led to a $1.8M cyber fraud case – Democratic Accent

A San Fernando Valley, California, man has been sentenced to more than five years in federal prison after orchestrating a massive fraud operation that targeted dozens of victims, many of them elderly.  Oren David Sela, 36, stole mail, hijacked phone numbers through SIM swapping, and used victims’ identities to drain bank accounts, stealing over $1.8 million.  Here is how the scheme worked and what you can do to avoid becoming a victim of a simil…