Solutions > SIM Swap Attack Protection
Over $100 million dollars are being stolen every year due to SIM swap attacks.
A SIM swap attack is a type of cybercrime where an attacker fraudulently takes control of a victim's mobile phone number by convincing the victim's mobile operator to transfer it to a new SIM card under the attacker's control. Once the attacker gains control of the victim's mobile phone number, they can potentially access the victim's accounts, reset passwords, and carry out various fraudulent activities.
Protecting you from SIM swap attacks
Bloxtel employs digital proofs of ownership to protect you from SIM swap attacks.
Using the patented dSIM technology, the digital proof of ownership involves electronically providing evidence that demonstrates you have legal rights and control over the dSIM asset. As an SMS authentication alternative, it is similar to a two-factor authentication method that does not rely on your phone number. Since the dSIM is associated with a tamper-resistant hardware token that is in your possession, it is virtually impossible for a malicious actor to swap your SIM without your knowledge and express consent even with sophisticated social engineering methods. Bloxtel is also building secure bridges with other blockchains so that you can carry your dSIMs universally with confidence.
