Bittrex Becomes a Target of $1 Million Crypto SIM Hack

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Bittrex, cryptocurrency exchange is being sued on an alleged SIM swap that allowed criminals to gain some 100 bitcoin, which at the time of writing is worth around $1 million. It is not unheard of in terms of this hacking, resembling other high-profile heists in which a hacker has seized control of a victim’s cell phone to then steel online crypto accounts.

The swap was from network carrier AT&T, funds were taken from Bittrex, and the hack took control over the victim’s online identity. Gregg Bennett, the victim of the hack, however, has not been resolved by criminal investigators, as others have before being made public in legal filings.

Bennett, as a result, has filed a suit in Washington state’s King County Superior Court, alleging that Bittrex violated its own published security protocols and ignored industry standards, missing the chance to stop the high-stakes burglary.

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