A Bank of America customer had $38,000 stolen in a SIM-swap attack, prompting the bank to reimburse the individual after public pressure. This incident highlights the vulnerability of online banking systems to this evolving cyber threat. 2023 saw Justin Chan fall victim to a SIM swap attack orchestrated by hackers who tricked Xfinity Mobile into porting his number to a new device. The compromised account allowed for unauthorized access and subsequent theft. While initially hesitant, Bank of America reversed its decision after media attention brought the issue to light, followed by Robinhood refunding $18,000 transferred during the attack. Financial security experts highlight this incident’s significant implications for individuals and digital banking infrastructure. The attack, particularly concerning to those in the digital finance field, calls for enhanced protection measures against SIM-swap attacks, which pose a serious threat to online financial transactions.