Signaling System No 7 (SS7), in the US it is known as Common Channel Signaling System 7 (CCSS7) while in the UK it is termed as Common Channel Interoffice Signaling 7 (CCIS7).
A system that connects one mobile phone to another is termed as SS7 which was introduced in 1975 and comes with various versions.
The protocols defined by the European Telecommunications Standards Institute and the American National Standards Institute are the most common used network protocols. The main aim of the SS7 is to allow phone networks to be able to transmit messages and calls so as to enable correct billings. This same SS7 enables roaming from one network provider to another especially when travelling in a foreign country.
SS7 vulnerabilty is real and allows a hacker to forward calls, record calls, send text messages, read text messages, track user location and steal data. Anyone using mobile phone could be vulnerable. Many countries use this approach as a law enforcement approach as part of its surveillance.
Recently, a survey that was under taking by the Univeril Technology expertise concluded that hackers are able to intercept bitcoin wallets through SS7 vulnerability. SS7 vulnerability has been warned for several years and many expertise have contributed to finding ways and means to mitigate these vulnerabilities without any success due to the global cellular network organizations ignorance. Gone are the days when the exploitation of SS7 vulnerability required expert technical know-how and capital. Today, hackers have started using these flaws to intercept victims bank accounts by intercepting the standard two way authentication (one time password).
There are several SS7 attack issues and not only limited to cryptocurrency wallets but all other services that base on two-way verification.
Univeril Technology security sector has several measures to fix these flaws. It might sound easy, but rigid security measures are needed to fix these flaws to disable hackers from intercepting these communications. Contact our expertise today.
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