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Telefónica, a prominent telecommunications provider, has formed a partnership with Chainlink Labs. Smart contracts will now utilize the GSMA Open Gateway API to request data, significantly minimizing the risk of SIM swap attacks and enhancing transaction security.
Telefónica, the largest telecommunications company globally, has teamed up with blockchain oracle provider Chainlink to bolster defenses against SIM swap attacks, a method increasingly used by hackers to access Web3 users’ assets.
As part of this effort, the Brazil-based operator Vivo will implement the GSMA Open Gateway API, SIM SWAP, enabling data validation from various sources through Chainlink’s functionalities. This strategy will:
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- improve transaction security;
- allow smart contracts to make requests for information to APIs;
- ensure that the device’s SIM card remains unchanged;
- offer two-factor authentication (2FA);
- identify fraud in dApps and DeFi services.
A SIM swap attack involves hackers taking control of a victim’s phone number. This tactic is often employed to compromise social media accounts and can also be used to access cryptocurrency wallets, credit cards, or bank accounts.
The partnership with Chainlink will present Web3 developers with new avenues to utilize standardized API interfaces. Johann Eide, Chief Business Officer of Chainlink Labs, states that this initiative will enhance the security of the entire blockchain ecosystem.
Telefónica has recently announced a collaboration with blockchain firm Nova Labs and launched the Helium Mobile Hotspots DLT solution to improve mobile coverage in Mexico.
Сообщение Telefónica Fortified Users Against SIM Swap Attacks появились сначала на CoinsPaid Media.
