NatalieLopez
22 Jan 24
The U.S. Securities and Exchange Commission (SEC) experienced a security breach when a hacker gained control over a staffer's phone number and used it to post false information on social media platform X. The unauthorized post falsely claimed that the SEC had approved spot bitcoin exchange-traded fu...
The U.S. Securities and Exchange Commission (SEC) experienced a security breach when a hacker gained control over a staffer's phone number and used it to post false information on social media platform X. The unauthorized post falsely claimed that the SEC had approved spot bitcoin exchange-traded funds, leading to a temporary increase in the price of bitcoin. The hacker was able to reset the password for the SEC's X account before the agency greenlighted 11 spot bitcoin ETFs for trading. The breach occurred due to a SIM swap attack, and the SEC acknowledged that multi-factor authentication for its X account had been disabled last July. The incident is under investigation by the U.S. Justice Department, FBI, Department of Homeland Security's cyber unit, Commodity Futures Trading Commission, and the SEC's enforcement unit.
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