SEC Omits This Security Detail Before Fake Bitcoin ETF Disclosure - Coin Bulletin

The U.S. Securities and Exchange Commission (SEC) said that the multi-factor authentication feature was not turned on before it was made in a fake statement about the spot Bitcoin ETF.

The SEC stated, "Although multi-factor authentication (MFA) was previously turned on on the @SECGov account in X, it was turned off by the X Support team in July 2023 at the request of the staff due to problems accessing the account. Once access was restored, the MFA remained closed until staff reopened the account after it was infiltrated on Jan. 9." * he explained.

The SEC's X account was infiltrated after a phone number used in the account was compromised. The X security team disclosed that multi-factor authentication was not used on the SEC account at the time of the incident.

According to the statement made by the institution, the phone number in question was accessed thanks to a SIM change attack. In SIM swapping attacks, a phone number is transferred to the SIM card used by the hacker.

The SEC stated, "The phone number was accessed through the telephone operator and not through the SEC's systems. SEC staff have not found any evidence that the unauthorized accessor gained access to the SEC's systems, data, devices, or other social media accounts." *Said.

The investigation into how the SIM on the account was changed by the operator and how the phone number used on the account was reached, is ongoing.