Home ยป Friend.Tech Protocol’s major theft raises doubts on decentralization.

Friend.Tech Protocol’s major theft raises doubts on decentralization.

Multiple users report falling victim to SIM swap attacks, resulting in asset loss due to account exploitation.

by V. Sinclair
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Hacking and Centralization Concerns on

In recent days, users have reported hacked accounts and stolen assets on, raising doubts about the platform’s decentralization claims. The use of less secure registration options without two-factor authentication has attracted malicious attackers, according to the founder of SlowMist.

SIM Swap Attacks and Loss of Assets

One user, Daren, shared his experience of falling victim to a SIM swap attack on, resulting in the loss of 22 ETH. The attacker sold all owned keys and liquidated the remaining ETH in Daren’s wallet. The vulnerability arises when Twitter accounts linked to real names expose phone numbers, making users susceptible to such attacks.

Recommendations for User Safety

As multiple cases of SIM swaps and hacks through have emerged, some suggest using separate phones while exploring the platform to enhance security.

Growth of Protocol, a decentralized social platform, has experienced significant growth since its mid-August launch. It has generated over 10,000 ETH in revenue and surpassed 30,000 ETH in total value locked (TVL), indicating increasing trust and participation in the protocol.

Success of Friend Tech’s Sniper Bots

Friend Tech’s sniper bots, automated trading solutions within the DeFi sector, have played a significant role in generating profits. With over 450 bots in operation, they have contributed $5.9 million, accounting for 34% of the total creator’s revenue. This success highlights the effectiveness of Friend Tech’s algorithms and the potential of automated trading in DeFi.

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