The post Telefónica Integrates Chainlink Functions on Polygon Mainnet to Safeguard Against SIM Card Tampering appeared on BitcoinEthereumNews.com.

Telefónica and Chainlink fight SIM swap attacks by integrating Chainlink’s oracle network with Telefónica’s GSMA Open Gateway APIs. Chainlink Functions connect APIs to Polygon’s blockchain network, bolstering transaction security and protecting SIM card information against fraud in Web3 applications. Telefónica, Spain’s premier telecom giant, has announced a partnership with Chainlink, a leading Web3 oracle provider, to introduce a new defense mechanism against the prevalent threat of SIM swap attacks.  The strategic alliance, therefore, focuses on integrating Chainlink’s oracle network with Telefónica’s GSMA Open Gateway APIs implementation. This integration facilitates secure and reliable data verification from various sources, thereby directly addressing the vulnerabilities exposed by SIM swap attacks. Such attacks, wherein hackers gain control over a victim’s phone number to access sensitive information, have troubled individuals and organizations. Notable victims include the United States Securities and Exchange Commission. Chainlink Functions, a prominent feature in this partnership, seamlessly connects APIs on the GSMA Open Gateway to Polygon’s Proof of Stake (PoS) blockchain network. This integration enhances the security of transactions and introduces a layer of protection for blockchain transactions, thereby ensuring the authenticity of SIM card information. Additionally, by leveraging this technology, the alliance aims to foster a more secure digital environment, effectively mitigating risks associated with two-factor authentication (2FA) and fraud in Web3 decentralized applications (dApps) and decentralized finance (DeFi) services.   Multinational telco @Telefonica has integrated #Chainlink Functions on @0xPolygon mainnet to help smart contracts detect unauthorized SIM card changes. Understand how Functions can provide an additional layer of security to blockchain transactions ⬇️https://t.co/jIpKbrOZff pic.twitter.com/Dsbv8JflNs — Chainlink (@chainlink) February 15, 2024 elefónica’s initiative to integrate the GSMA Open Gateway SIM SWAP API, initially rolled out in Brazil by Vivo (Telefónica Brazil), represents a pioneering effort to utilize telecommunications APIs within the blockchain domain. Revolutionizing Web3 Security The collaboration between Telefónica…

---

Filed under: News - @ February 16, 2024 4:20 pm