Scammers gained access to a Toronto couple's bank accounts through a ploy called the SIM swap. The pair lost more than $100,000 as a result.
Due to the sensitive and/or legal subject matter of some of the content on globalnews.ca, we reserve the ability to disable comments from time to time.WATCH: A Toronto couple has lost more than $140,000 after their Freedom Mobile number was hacked. It’s a fraud called the SIM swap. As Sean O’Shea reports, this can happen to anyone using their phone to validate financial accounts.The Greater Toronto Area couple did nothing wrong but they lost about $140,000 anyway.
When the couple called Freedom Mobile’s customer service line, they say a representative said records showed someone had obtained a new SIM card in a retail location in Toronto, apparently claiming to be Stork. Stork says after reporting the fraud to police and to the Wealthsimple platform, the company acknowledged he was not at fault. Subsequently, Wealthsimple returned the money that had been taken by the fraudsters.But a separate account with Coinbase, unrelated to his business with Wealthsimple, in which he says he had roughly $140,000 in Bitcoin, that money is gone for good.
A company spokesperson added that in Stork’s case: “we can confirm that we have been in contact with the customer to resolve the issue.”
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