A SIM-swap or phone-port attack, a form of phone-based cyberattack, occurs when a perpetrator gains control of a person's phone number by transferring it to a device they own. This can happen through identity theft or by manipulating mobile carrier customer service representatives using social engineering techniques. Accounts that rely on SMS for two-step verification or use phone-based methods for account recovery are particularly susceptible to this type of attack.

To safeguard your Wallex account from such attacks, it's advisable to adopt a more robust form of two-step verification. Options include using a security key for 2FA or employing time-based One Time Passwords through mobile authentication apps like Google Authenticator. These methods enhance security, reducing the risk of unauthorized access to your account. For detailed guidance on securing your Wallex account, consider visiting our website for further information.