Friend.tech Bolsters Security with Two-Factor Authentication (2FA) After SIM-Swap Attacks

The team behind the decentralized social media platform Friend.tech has introduced Two-Factor Authentication (2FA) to enhance the security of its users in response to a series of SIM-swap attacks. Starting from October 9th, users can add a 2FA password to their Friend.tech accounts, providing an additional layer of protection in case their cell carrier or email service gets compromised.

The 2FA password feature prompts Friend.tech users to enter an extra password when signing in on new devices, significantly strengthening the platform’s security measures. Importantly, neither the Friend.tech nor Privy teams have the ability to reset these passwords, placing the responsibility on the users.

These security enhancements come after a series of SIM-swap attacks on Friend.tech users that began in September. The attacks resulted in the theft of an estimated 109 Ether (ETH), equivalent to approximately $172,000, from four users in just one week. Subsequently, another four users were targeted in a 24-hour period a few days later, resulting in the theft of an additional $385,000 worth of Ether.

To mitigate the risk of SIM-swap attacks, Friend.tech had already taken security measures on October 4th, allowing users to add or remove various login methods. However, some users expressed disappointment that these measures were not implemented sooner.

The introduction of 2FA has received mixed reactions from users, with some relieved and others expressing frustration over the perceived delay. Prominent Friend.tech creator 0xCaptainLevi expressed optimism about the introduction of 2FA and its potential to elevate the social media platform’s security.

These recent SIM-swap attacks have raised concerns about user confidence in the platform, as reflected in a 15.5% decrease in total value locked on Friend.tech, which currently stands at $43.9 million, compared to its all-time high of $52 million on October 2nd, according to DefiLlama.