Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    SEC Blames Social Media Account Hack on ‘SIM Swap’ Attack in Fake Bitcoin ETF Post

    • January 23, 2024

    The US Securities and Exchange Commission (SEC) has revealed that its social media account on X fell victim to a “SIM swapping” attack in relation to the false post about the approval of Bitcoin exchange-traded funds (ETFs) earlier this month.

    The incident, which occurred on January 9, led to a temporary surge in the price of Bitcoin, followed by a price crash after SEC Chair Gary Gensler said on his personal X account that the SEC’s X account had been “compromised.”

    The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

    — Gary Gensler (@GaryGensler) January 9, 2024

    In a statement published on Monday this week, the SEC said that six months before the attack, an additional layer of protection known as multi-factor authentication (MFA) had been removed by staff and was only reinstated after the January 9 attack.

    The fraudulent post was followed by a vote by the commission the next day, which ultimately resulted in the approval of all spot Bitcoin ETF applications.

    SIM swapping involves attackers gaining control of a phone number by having it reassigned to a new device.

    Once in control of the phone number, the unauthorized party reset the password for the @SECGov account, the statement said.

    The new statement from the regulator confirms key details shared by X Safety already the day after the incident.

    We can confirm that the account @SECGov was compromised and we have completed a preliminary investigation. Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number…

    — Safety (@Safety) January 10, 2024

    Ongoing investigation by SEC and law enforcement agencies


    According to the new SEC statement, law enforcement agencies are currently investigating how the hackers persuaded the SEC’s mobile carrier to facilitate the phone number switch.

    The agency did not disclose the identity of the carrier involved.

    Both lawmakers and leaders from the crypto industry have sought explanations for the SEC’s vulnerability to such an attack, especially given the regulator’s stringent cybersecurity requirements for publicly traded companies.

    The incident is under investigation by various agencies, including the SEC’s Office of Inspector General and its Division of Enforcement, the Commodity Futures Trading Commission, the Federal Bureau of Investigation, the Department of Justice, and the Cybersecurity and Infrastructure Security Agency.

    Multi-factor authentication is now enabled for all SEC social media accounts that offer it, the SEC statement added.

    The post SEC Blames Social Media Account Hack on ‘SIM Swap’ Attack in Fake Bitcoin ETF Post appeared first on Cryptonews.

    Previous Article
    • Investing

    Is Sei Going to Crash? SEI Price Drops 20% as a New Mining Protocol Shakes Up the Market

    • January 23, 2024
    View Post
    Next Article
    • Investing

    Immediate XGen Review – Scam or Legitimate Trading Platform

    • January 23, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.