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00:23 ABC News correspondent discusses a sophisticated phone scam called "SIM swapping" that is draining victims' bank accounts. Justin Chan, a resident of Carlsbad, California, lost $38,000 from his Bank of America account after scammers were able to port his phone number to a device they controlled.

02:11 The scammers were able to access Chan's email and bank accounts, and wire the money out while he was sleeping. The FBI says SIM swapping cost victims more than $48 million last year, with at least 9 cases reported in the San Diego area.

03:53 Scammers can use SIM swapping to bypass two-factor authentication and gain access to victims' online accounts. Experts advise using unique passwords and contacting your phone carrier to set up a PIN to protect against this type of scam.

05:33 Chan reported the incident to the police and found that one of the wire transfers went to an account belonging to a convicted felon. The police are investigating the case, but Chan is still waiting to see if Bank of America will refund the stolen money.

I was contacted to hack a Trezor One hardware wallet and recover $2 million worth of cryptocurrency (in the form of THETA). Knowing that existing research was already out there for this device, it seemed like it would be a slam dunk. Little did I realize the project would turn into a roller coaster ride with over three months of experimentation, failures, successes, and heart-stopping moments. It reminded me that hacking is always unpredictable, exciting, and educational, no matter how long you've been doing it. In this case, the stakes were higher than normal: I only had one chance to get it right.