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Phishers and iPhone Thieves Rolling Out Multimillion-Dollar Operations

IBM X-Force Incident Response and Intelligence Services (IRIS) researchers recently went down the rabbit hole of a physical iPhone theft that was followed by a SMiShing campaign designed to unlock the phone for resale on the black market. As we looked into what was behind the phish, we found a thriving and large-scale operation of over 600 phishing domains designed to rob Apple users of their iCloud credentials.

This type of scam, which began gaining momentum in 2017, is happening in large cities, especially during major events like concerts or information security conferences. Having looked into similar cases, we learned that attackers steal phones, manage to lure users into divulging their iCloud credentials, automate unlocking the devices and complete the process by illegally reselling them on the black aftermarket of iDevices and pricey tech.

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