Handschumacher and "at least" eight others would make fake SIM card exchange requests, sometimes in conjunction with operator employees, to associate the service with a new phone controlled by the intruders. It made it easy to rob a victim's virtual wallet ̵
The first evidence of a group discovered in Michigan, where a mother overheard the son, claiming to be an AT & T employee. Discoveries in that state led to identify Handschumacher and the rest of the ring, who used Discord and Telegram chats to conduct business. It's not sure how long the ring had been active, but it scored as much as $ 470,000 in a single heist. The group even managed to compromise the accounts of bitcoin magnetat Tyler Winklevoss, even though they did not seem to have followed.
Handschumacher has not claimed himself, although he confessed himself to join the ring and money laundering over $ 100,000 in digital currency using the phone.
Regardless of the outcome of the case, the arrest indicates that SIM hijacking becomes more of a problem in the United States. It also emphasizes the importance of moving away from SMS in two-factor authentication. While SMS is far better than relying solely on a password, it is still vulnerable to tricks like SIM hijacking. Apps and other alternative verification methods can prevent attackers from even bringing your accounts into use with other devices, even though they have control over your phone number.