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Telefónica Teams Up With Chainlink to Provide Security Against 'SIM Swap' Hacks

One of the world's largest telecommunication services providers, Telefónica (TEF), is partnering with decentralized oracle network Chainlink (LINK) to ensure security against Web3-related hacks and exploits, including "SIM Swap" attacks. The partnership will provide security for smart contracts that will connect with other Application Programmable Interfaces (APIs) on the "GSMA Open Gateway," according to a statement published on Thursday. The first GSMA Open Gateway API – aptly called SIM SWAP – will be introduced in Brazil by Telefónica to add a layer of extra security to blockchain transactions.  GSMA – an organization that consists of over 1,000 mobile operators and businesses.

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