Given the vulnerabilities that have been recently announced for LTE, it seems to me that your #2 is much more likely. Anyone with a Software Defined Radio and

Given the vulnerabilities that have been recently announced for LTE, it seems to me that your #2 is much more likely. Anyone with a Software Defined Radio and the right code could run their own Stingray. Circumstantial evidence of recent reports of massive increases in suspicious activities would seem to indicate that this is actually happening.