SIM swap attack behind SEC account breach, Bitcoin ETF fake announcement

The official Twitter account of the US SEC has been compromised

On the 10th, the X Security Center confirmed that the official Twitter account of the U.S. Securities and Exchange Commission (SEC) was accessed illegally through a method called SIM swapping.

Additionally, the SEC has pointed out that “two-factor authentication” was not enabled, and the company has been criticized for its lax security measures.

The incident has raised questions about the SEC’s security measures.Republican Sens. J.D. Vance and Thom Tillis also issued an explanation to the SEC regarding the erroneous post, saying, “It is unacceptable for an agency charged with regulating the world’s capital markets to make such a grave error.” asked for

A SIM swap attack is a fraudulent method in which an attacker illegally obtains a victim’s mobile phone number and links it to a new SIM card. X accounts without two-factor authentication configured are vulnerable to this attack.

At around 6:10 a.m. Japan time on the 10th, the SEC’s official Twitter account announced the approval of a Bitcoin ETF, but this post turned out to be fake. Following this announcement, the price of Bitcoin briefly soared to nearly $48,000 (approximately 7 million yen), but has since fallen to the $45,000 range.

Just 16 minutes after the incident occurred, SEC Chairman Gary Gensler explained on Twitter that “the official account was accessed illegally and fake posts were made,” and the SEC announced that it would not be able to list a physical Bitcoin ETF. He emphasized that he had not approved the transaction.

An SEC spokesperson told virtual currency media The Block, “This fake tweet was not created by the SEC or its employees,” and is cooperating with law enforcement authorities to investigate the unauthorized access and related actions. He revealed that he is working on it.

connection:U.S. SEC’s SNS account was hacked and fake announcement of approval of Bitcoin ETF was made

According to data from Coinglass, in the hour following the fake “Bitcoin spot ETF approval” announcement, approximately $81.16 million worth of virtual currency futures positions (approximately 11 billion yen) were forcibly liquidated, including Bitcoin positions. amounted to approximately $53.97 million.

ETF review date approaches

Currently, in the market, the SEC’s final approval deadline for the Bitcoin spot ETF application by ARK Invest and 21Shares is approaching on the 10th US time, and expectations are high for simultaneous approval of multiple application proposals.

Source: Bloomberg

Many analysts believe that the issue is unlikely to affect ETF review decisions.

Charles Gasparino, a reporter for FOX Business, said, “Securities lawyers have commented that an internal investigation into allegations of market manipulation due to the wild rise in Bitcoin prices caused by fake tweets will be necessary.However, the SEC… “We have never rejected an ETF application that went this far.”

According to Fox Business Reporter Eleanor Terret, each committee member has the right to request a committee review and full vote on items that have already been approved under delegated authority. have.

connection:U.S. SEC Chairman Gensler warns of caution in virtual currency investment as expectations rise for approval of BTC spot ETF

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