The Most Expensive Lesson of My Life: Details of SIM Port Hack

Sean Coonce:

I lost north of $100,000 last Wednesday. It evaporated over a 24-hour time span in a “SIM port attack” that drained my Coinbase account. It has been four days since the incident and I’m gutted. I have zero appetite; my sleep is restless; I am awash in feelings of anxiety, remorse, and embarrassment.

This was the single most expensive lesson of my life and I want to share my experience + lessons learned with as many people as possible. My goal is to increase awareness about these types of attacks and to motivate you to increase the security of your online identity.

I try to take all my security very seriously, but since “I know what I’m doing”, I do like to cut corners a bit. Not as much as Sean though. His piece has motivated me to review my whole setup.