SEC: Fake Tweet Released Before Approval of Bitcoin Spot ETF, SEC Spokesperson Explains
The US Securities and Exchange Commission (SEC) released a fake tweet on Twitter on the eve of approving a Bitcoin spot ETF. SEC spokesperson explained the incident on the 22nd.
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SEC Hacked with Fake News! SEC Chairman Gary Gensler Manipulates Market Before Approval of Bitcoin Spot ETF
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SEC: Previous SIM Card Swap Attack on Twitter
SEC Has Disabled Multi-Factor Authentication for Months
SIM Card Swap Attack (SIM Swapping)
SEC: Previous SIM Card Swap Attack on Twitter
According to The Block, the SEC claimed that an unauthorized party gained control of the SEC Twitter account’s associated phone number through an obvious SIM card swap attack.
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The spokesperson stated:
The hacking process was carried out through the telecommunications service provider, not the SEC system. SEC staff at the time did not detect any indications that the unauthorized party had gained access to the SEC Twitter account. Subsequently, the spokesperson reset the password for the SEC Twitter account.
The spokesperson emphasized ongoing cooperation with the SEC Inspector General’s Office, the Federal Bureau of Investigation, the Commodity Futures Trading Commission, the Department of Justice, and other law enforcement agencies to determine how the unauthorized party caused the telecom company to change the number and how the unauthorized party obtained the associated phone number of the SEC account.
SEC Has Disabled Multi-Factor Authentication for Months
The SEC spokesperson pointed out that the multi-factor authentication for the SEC Twitter account was disabled in July of last year due to issues accessing the Twitter account. Therefore, it remained disabled until the account was stolen on January 9th and was reactivated by SEC staff.
The spokesperson also mentioned that all social media accounts under the SEC have enabled multi-factor authentication.
SIM Card Swap Attack (SIM Swapping)
“SIM card swap attack” is also commonly known as SIM card swap fraud. Criminals usually collect specific target’s personal information and then, after deceiving the telecommunications company’s staff, transfer (duplicate) the target user’s phone number to a SIM card under their control.
This is equivalent to having control over the “user’s phone” and is often used to access financial accounts and cryptocurrency wallets. However, this is not common in Taiwan.
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friend.tech reports multiple users hacked, cybersecurity firm SlowMist: Beware of SIM card swap attacks
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SIM Card Swap Attack
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