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Sim Swap Attack

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cryptocurrency-cybersecurity2 years ago

"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.

via Decrypt|
#bitcoin#cryptocurrency-cybersecurity#cybersecurity
technology2 years ago

SEC's X Account Compromised by SIM-Swapping Attack

The Securities and Exchange Commission (SEC) revealed that its official Twitter account was compromised in a SIM swapping attack, with the account not having multi-factor authentication (MFA) enabled at the time. This incident, which led to false claims about bitcoin ETF approvals, has raised concerns about the SEC's security practices and prompted investigations by various authorities. The lack of MFA made it easier for the account to be taken over, and questions remain about how the attackers knew which phone was associated with the account and the involvement of the telecom carrier.

via Engadget|
#cybersecurity#multi-factor-authentication#sec
cybersecurity2 years ago

Twitter hacker sentenced to prison for 2020 breach.

Joseph James O'Connor, a British hacker responsible for the 2020 Twitter breach, has been sentenced to five years in prison after pleading guilty to four counts of computer hacking, wire fraud, and cyberstalking. O'Connor was part of a group that broke into dozens of high-profile Twitter accounts, including those of Apple, Binance, Bill Gates, Joe Biden, and Elon Musk, to spread cryptocurrency get-rich-quick scams. The hackers used phone-based social engineering techniques to trick Twitter employees into granting them access to Twitter's network. The breach prompted Twitter to improve its cybersecurity controls, introducing hardware security keys for its employees to prevent future phishing attempts.

via TechCrunch|
#cryptocurrency#cybercrime#cybersecurity