Europol Dismantles Large-Scale Crypto Phishing Ring, Uncovering Hidden SIM-Box Infrastructure

Europol and Latvian authorities have shut down a complex crypto-phishing operation that utilized a vast network of phone numbers to create millions of fake accounts. The operation, dubbed ‘SIMCARTEL,’ relied on approximately 1,200 SIM-box devices and 40,000 active SIM cards to rent phone numbers across over 80 countries. These devices enabled criminals to build more than 49 million fake online profiles used in a wide range of scams targeting cryptocurrency investors, phishers, and impersonators.