TAMPA, Fla. — Dan Clark says his future changed in an instant as his life savings of more than $700,000 vanished.

“My phone said, ‘No service, SIM card.’ And I didn’t even know what a SIM card was,” Clark said.

By the time he found out, it was too late. His phone number had been transferred to a crook’s device, and Clark’s accounts, including his proceeds in investments in cryptocurrency, were wiped out.

“I lost everything in a matter of a few hours,” he said. “Life’s work, a few hours.”

Clark quickly learned he was a victim of a SIM swap, a sophisticated scheme the FBI warns is sweeping the country. In 2021, the FBI received 1,611 SIM swapping complaints representing $68 million in losses to consumers.

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