New details emerge about SEC's X account hack, including SIM swap
Publishing timestamp: 2024-01-22 18:49:55
Summary
The U.S. Securities and Exchange Commission's official account on X was breached due to a SIM swap attack. An unauthorized party gained access to the account and posted a fake announcement about the approval of a bitcoin exchange-traded fund. The cryptocurrency market reacted to the post, with bitcoin prices initially rising and then falling after the SEC clarified that the approval had not yet happened. The SEC determined that the breach was a result of a SIM swap attack, where the attacker gained control of the SEC's cell phone number and reset the account password. The SEC did not have two-factor authentication enabled at the time of the breach. The article also discusses the growing threat of SIM swap attacks and the need for better security measures for government agencies and corporations.
Sentiment: MIXED
Tickers: BTC.CM=,
Keywords: business news, bitcoin, technology, sec, bitcoin/usd coin metrics, cryptocurrency, energy, breaking news: technology, fintech,
Source: https://www.cnbc.com/2024/01/22/new-details-emerge-about-secs-x-account-hack-including-sim-swap.html