'Verifying' fake accounts via SMS cheaper than your coffee

Many online services rely on SMS codes for registration to deter “fake” accounts. However, a thriving grey market allows users to bypass these security measures for a small fee.

A year-long study by Cambridge University researchers has shed light on the online marketplace, where vendors buy SIM cards in bulk to sell verification services. which in turn are often used to create fake accounts for perpetrating online fraud and manipulation.