The underground marketplace for desirable social media handles (OG Handles) was explored in this excellent episode of Reply All: The Snapchat Thief [1]. In that story the basic technique was a SIM-swapping attack [2]. Fraudster calls the cell provider, claims to be the victim and that they lost their phone. Cell provider then ports the phone identity over to a new SIM. After that the fraudster just resets the account…
Do you mean port the phone number to a new SIM? Because the SMS 2FA will go to the old number. Porting it to a new number won't do anything.