Crypto is in its “cloned cell phone” era

Mobile phones were first dismissed as risky tech for fraudsters and criminals—sound familiar?

In 1996, the cellular phone industry lost $650 million to fraud. Criminals with electronic scanners could pluck your phone number right out of the air and clone it onto another device. Your bill would spike. You’d have no idea why. And if you complained, good luck getting anyone to take you seriously.