Telefónica said that the integration with Chainlink ensures that devices' SIM cards will not undergo unauthorized changes.
Telefónica, Spain’s largest telecom brand, has announced a collaboration with Web3 oracle provider Chainlink to enhance protections against SIM swaps — a popular attack vector that hackers use to gain access to their targets.
On Feb. 15, Telefónica said the strategic alliance between the two parties will “enable the secure connection” of smart contracts with other GSMA Open Gateway APIs. The integration allows the verification of data from different sources using Chainlink along with a framework of common network APIs that is designed to provide access to operator networks.
A SIM swap attack is a type of identity theft where hackers take over their victim’s mobile phone number, gaining access to information like crypto accounts, credit cards or bank accounts. It is a prevalent and efficient hacking technique that even big organizations like the United States Securities and Exchange Commission (SEC) have fallen victim to.
