Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">A SIM swap <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a> on the U.S. SEC’s Twitter account led to a <a rel="noopener noreferrer nofollow" title="false" href="https://thebittimes.com/tag/false.html">false</a> tweet about Bitcoin ETF <a rel="noopener noreferrer nofollow" title="approval" href="https://thebittimes.com/tag/approval.html">approval</a>, briefly disrupting the cryptocurrency market.</p>
 <p>On Jan. 10, the U.S. Securities and Exchange Commission (SEC) experienced a cybersecurity breach, resulting in a misleading tweet about spot Bitcoin ETFs from its official account. This incident, caused by a SIM swap attack, briefly stirred confusion in the cryptocurrency markets.</p>
 <p>The SEC explained the situation in a statement: “The unauthorized party obtained control of the SEC cell phone number associated with the @SECGov account in an apparent ‘SIM swap’ <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>.” This allowed the <a rel="noopener noreferrer nofollow" title="attack" href="https://thebittimes.com/tag/attack.html">attack</a>er to reset the Twitter account’s password and post the <a rel="noopener noreferrer nofollow" title="false" href="https://thebittimes.com/tag/false.html">false</a> <a rel="noopener noreferrer nofollow" title="announcement" href="https://thebittimes.com/tag/announcement.html">announcement</a>.</p>
 <p>The SEC also admitted that multi-factor authentication, a crucial security feature, was disabled for its Twitter account since July 2023. This decision contrasts with the general cybersecurity recommendations previously endorsed by SEC Chairman Gary Gensler.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitcoin dips below $40k amid BTC ETF selloffs
 </div>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">This is a reminder to secure your financial accounts as well as protect against identity theft and fraud.<br><br>Remember to:<br>Use strong passphrases or passwords<br>Set up multifactor authentication<br>Keep account alerts turned on#CybersecurityAwarenessMonthhttps://t.co/qitGkujLxD</p>— Gary Gensler (@GaryGensler) October 24, 2023
   </blockquote>
  </div>
 </figure>
 <p>The impact of the false tweet was significant yet temporary. Cryptocurrency markets reacted sharply, highlighting the sensitivity of these markets to regulatory news. However, the situation was quickly rectified with the SEC and Gensler follow-up clarifications. The official approval of spot Bitcoin ETFs was announced the next day.</p>
 <p>The incident has drawn attention from lawmakers, including Senators J.D. Vance and Thom Tillis, who expressed concerns about the SEC’s cybersecurity measures.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> BIS sets 2024 strategy with key focus on CBDC and tokenization
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-reveals-sim-swap-attack-behind-false-bitcoin-etf-approval-announcement-tbt77468.html">https://thebittimes.com/sec-reveals-sim-swap-attack-behind-false-bitcoin-etf-approval-announcement-tbt77468.html</a></p>

SEC reveals SIM swap attack behind false Bitcoin ETF approval announcement

TheBitTimes

Other articles published on Jan 23, 2024

Crypto Companies Urge US Treasury to Reconsider Reporting Processes for Crypto Mixers

SEC grilled as Binance challenges crypto securities label

As Bitcoin Slips Back Toward $40k, It's Time to Buy These Coins!

Big Move: Whale Transfers 80M $XRP Tokens Sparking Sell-Off Fears; $GFOX Rallies Above $2.8 Million

Bitcoin’s Value Dips Below $40,000

Meta faces pressure from Congresswoman Maxine Waters over crypto trademark filings

Join our free newsletter for daily crypto updates!