In one of the biggest scams in crypto history by hacking a SIM card.

A person (a crypto whale) had $45 million worth of bitcoin and bitcoin cash stolen.

$45 million hacked and stolen:

According to a post on the site,redditOn February 22, which has now been deleted, investor Josh Jones, who appears to be the founder of Dreamhost, became the victim of a SIM hacking attack.

He tells Jones that he lost a total of $45 million.

$30 million of that is in Bitcoin Cash (below 100,000 BCH) and $15 million in Bitcoin (1,500 BTC).

Appealing to the BCH crypto community to help him, Jones urged miners or anyone else to help him in some way, promising a big reward if he succeeded.

Read:After Elon Musk’s acquisition talks progress on Twitter…Will Dogecoin be Twitter’s original digital currency?

According to Wan, the hacker appears to be splitting Bitcoin into smaller amounts and may enter a transaction mixing service soon…so it’s likely to be a real hack.

broke down

1 pm BCH dollars Sim Hack!! Worth $30 million from one Chinese whale (claimed to have lost $15 million BTC dollars Also) He’s now asking for help from miners.. I’m talking to major owners of BCH pools at this OMFG

😱😱

BCH address: qzumak2rvxksjgkjuxe2fe5jxatktlsnhy5sthr5p7

This is really brutal pic.twitter.com/19XM3w5BL7

DoveyWan 🪐🦖 (@DoveyWan) February 22, 2020

what happened after that?

At this stage, there is no official confirmation of the possibility of returning the stolen funds, so the situation is still very disturbing for the investor who is supposed to have lost his money.

According to Wan, the only way this can be remedied is through double spending on the Bitcoin Cash network, which could lead to the transaction’s demise, according to Wan.

It is important to note that this would not have been possible if this whale had kept his cryptocurrency money in a cold hardware wallet.

Read:A licensed cryptocurrency exchange scams its users

SIM swap attacks are only successful when they target a mobile device connected to the Internet.

At times like these it is essential to remember that protecting your crypto assets is paramount.

Never keep large amounts of money in hot wallets or platforms, as you are prone to such incidents.

And be sure to use the necessary security measures to ensure the safety of your wealth.

This is something we stress over and over on the Arab Bitcoin website, as the safety of your digital currencies and money is your responsibility alone.

Read also:

Can blockchain transactions be hacked and why is zero-knowledge proof important?

For the second time in days… the bZx protocol for decentralized finance was hacked and losses approached a million dollars