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Post: SEC Chair Responds to Lawmakers Regarding SIM Swap Attack

SEC Chair Responds to Lawmakers Regarding SIM Swap Attack

Key Points:

  • SEC Chair Gary Gensler responded to four members of the U.S. House of Representatives regarding the SEC’s Jan. 9 SIM swap attack.
  • The attack involved a hacker gaining access to the SEC’s official Twitter account and falsely declaring the approval of spot Bitcoin exchange-traded funds.
  • The hacker made two posts and liked two tweets before the SEC could undo the activity.
  • Law enforcement is currently investigating how the unauthorized party changed the SIM for the account and knew which phone number was associated with it.

SEC Chair Responds to Lawmakers Regarding SIM Swap Attack

SEC Chair Gary Gensler has issued a response to four members of the U.S. House of Representatives regarding the SIM swap attack on the SEC’s Twitter account. The attack involved a hacker gaining unauthorized access to the account and falsely declaring the approval of spot Bitcoin exchange-traded funds. The hacker was able to make posts and like tweets before the SEC could undo the activity. Law enforcement is currently investigating how the unauthorized party was able to change the SIM for the account and determine the associated phone number. The SEC’s internal staff terminated the unauthorized access, but the investigation is ongoing.

Hot Take:

It is concerning that the SEC’s official Twitter account was compromised in a SIM swap attack. This incident highlights the vulnerability of social media accounts and the potential impact of false information being spread. It is crucial for organizations to take proactive measures to protect their accounts and ensure the accuracy and integrity of the information they share. The ongoing investigation should provide insight into how the attack occurred and serve as a reminder for other institutions to strengthen their security measures.

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