Cryptocurrency Cybersecurity News

"SEC Reveals SIM Swap Attack Behind Fake Bitcoin ETF Announcement"

The U.S. Securities and Exchange Commission (SEC) revealed that a fake Twitter announcement about the approval of spot Bitcoin ETFs was the result of a SIM swap attack on its @SECGov account, causing chaos in the cryptocurrency market. The unauthorized party obtained control of the SEC's phone number and reset the account password. The SEC disabled multi-factor authentication on its Twitter account, contrary to its chair's recommendations, and faced criticism from senators over cybersecurity procedures. The incident led to a plunge in Bitcoin's price before the real approval of spot Bitcoin ETFs was issued the following day.