Israel’s Crypto executives encounter hack via their telegram and email accounts

Mossad and Shin Bet are investigating a Telegram hack on 20 Israeli cryptocurrency leaders in early September through their telegram channels.

By · Oct 8, 2020 . 5min read

Crypto executives encounter hack in Israel news
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Haaretz’s recent report indicates that approximately 20 Israeli cryptocurrency executives were wrenched after a hack and identity theft in a coordinated cyber attack in September. The nation’s intelligence agency Mossad and the internal security service Shin Bet are investigating the same. Executives reportedly lost access to their Telegram and email clients. Consequently, they had their identities stolen in the possible SMS spoofing incident that only seems to have hit users of the telecom giant known as Partner.

Hackers are known as “sophisticated team.”

According to the report, the coordinated attack took place at the start of September. The hackers’ group name is unknown. However, people accustomed to the matter have described it as a “sophisticated team” that may even have been state-sponsored. Tzahi Ganot, co-founder of a security firm Pandora, elucidates how the complete process went down. All victims were customers of an Israeli telecommunications giant Partner. The unknown hacker’s group used their SMS verification processes to obtain personal data.

Tzahi Ganot states that hijacking a user’s SMS messages is not easy. However, it can be done if the hacker is close to the target. However, he says that it is difficult to understand how a person is wandering throughout Tel Aviv and getting close to numerous people without coming in the eyes of Shin Bet.

Initially, a client addressed Ganot and his company on September 7th with the issue and a ransom request in the form of cryptocurrencies. He says that he received loads of messages from people with similar complaints of encountering hacks the next morning.

Mossad and Shin bet investigating the hack.

Some of the victims registered police complaints but got only brief and unclear answers. Nevertheless, Ganot affirmed that the quickly increasing number of similar cases reached Mossad and Shin Bet shortly. He described Partner’s lack of collaboration on the matter. He states that the telecommunications company lost all of the victims as clients. Moreover, he suggested that other similar firms may have had more strong firewall protection, which Partner missed.

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