Earlier quoted context omitted.
Phone number , not phone.
How does an attacker gain access to a phone number without having the phone? Like physically stealing the sim card or something else?
From that moment onwards, all the 2nd factor SMS OTP go to the attacker.
There are APIs that are provided by mobile operators via aggregators such as Telesign, Prove, Vonage, Twilio etc. that can be used to check if a SIM Swap has happened recently on that phone number. That API is used by fintech companies and others e.g. when they want to check if a fund transfer is to be allowed or flagged up.