Friend.tech announces updated feature to add and remove login methods after SIM-swap reports

The decentralized social network Friend.tech has revealed a new feature that allows users to add and remove various login methods for their personal accounts following SIM-swap reports. On October 4, Friend.tech announced that these settings can now be accessed through the app by tapping into the user's wallet.

Enabling enhanced security

Friend.tech has responded to inquiries from users who have been asking why the platform has yet to enable a two-factor authentication passcode feature. The company explained that the feature, in its current state, is likely to cause users to lock themselves out of their accounts. Friend.tech has suggested UX updates to Privy, the company responsible for enabling privacy features. Privy is working on implementing the updates, and Friend.tech will integrate the feature once it is finished.

During a Q&A session on October 2, some Friend.tech users complained that they were not prompted to confirm their passcodes and when mistyped, neither Privy nor Friend.tech could reset the passcode.

Users respond as accounts get locked out

Following the announcement of the updated feature, many users have reported being locked out of their accounts. One user expressed frustration, stating that they had been locked out of their account for over a month and were unsure where to seek help now that the help desk account is banned.

Another user complained that even though they removed their mobile number and replaced it with another type of authentication, sessions on other devices were not logged out. This potentially allows hackers to remain logged in.

Exploits and compromised accounts

These updates come after the platform experienced exploits on October 4, during which users reported compromised accounts following SIM swaps. Over 100 ETH (cryptocurrency) was drained within a week as a result.

The exploits continued on October 5, with the scammers behind the compromises managing to accumulate at least $385,000 worth of ETH.

Despite these security challenges, Friend.tech has seen significant revenue increases, with a total of 10,663 ETH surges and a total value locked reaching over 30,000 ETH.