The SIM Swap - Inside a $24M SIM Swap Scam

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Jordan & Scott discuss SIM Swap attacks.
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In this episode of Hacked, the hosts dive into a startling story about a SIM swap scam that allegedly netted a young hacker $24 million in cryptocurrency. Drawing from a sworn affidavit, they recount how “Nick,” just 20 years old, attempted to add himself to someone else’s phone account at an AT&T flagship store in Times Square—only to be stopped at the last moment by an unpaid bill. Listeners learn that if Nick had succeeded, he could have redirected text messages, bypassed two-factor authentication, and emptied the victim’s online wallet of millions in digital currency.

Alongside Nick is “Chris,” a private jet rental salesman who befriends him, grows suspicious of his lavish lifestyle, and ultimately records his activities. The hosts then explore how social engineering and SIM card vulnerabilities create an open door for hackers to steal phone numbers, intercept texts, and manipulate login credentials—turning mobile devices into key targets for cybercriminals. They discuss the broader problem of cellular carriers, SIM card cloning, and the pitfalls of using texts as a second layer of security.

Finally, the show highlights the importance of strong cybersecurity practices, outlines how two-factor authentication can be undermined via phone hacking, and reveals how social engineering often exploits lapses in customer service protocols. The episode ends with a brief Q&A on DDoS attacks, explaining how malicious traffic can overwhelm networks and even damage hardware. Throughout, the hosts emphasize the human element in hacking—underscoring that, whether it’s SIM swapping or DDoS for hire, people are frequently the weakest link in online security.