eSports star claims he’s lost $200,000 of crypto in SIM-swap scam

Yiliang ‘Doublelift’ Peng has told the story of how he lost $200,000 in cryptocurrency…

An esports star has revealed that he’s been the victim of a sim swap hack, that’s led to him losing a sizeable amount of cryptocurrency.

Yiliang ‘Doublelift’ Peng is a professional esports videogamer, who has earned a sizeable amount from playing the game League Of Legends. But as per one of his most recent YouTube posts, Peng received last week messages from his bank alerting him to the fact that his account was overdrawn. The only problem? He knew it wasn’t.

Peng is now linking this to unusual coverage problems on his mobile phone a few weeks back, and he’s concluded that he’s fallen prey to a SIM-swap attack. That is, where hackers convince a mobile phone operator to issue a new SIM, that then supersedes the existing one, giving access to account details.

The scammers are thus likely to have deployed a tactic similar to that, to get access to Peng’s email, and also to his cryptocurrency account at Coinbase. Whilst there, they’ve removed some $200,000 worth of cryptocurrency, and covered their tracks with a series of email filters.

The full story is detailed in Peng’s video, that you can read below these words. Beware: there’s some fruity language from the start of the video.

Standard security recommendations are to use at least two factor authentication to protect against fraud. Although in this particular case, it wouldn’t have made any difference. The moral of the story? If you notice any usual activity around your mobile phone coverage, it’s best to check it out…

Image: Yiliang ‘Doublelift’ Peng