What is a SIM swap attack and how it affected the US SEC

The SEC's official account on social media platform X was compromised in a SIM swap attack due to the lack of multi-factor authentication (MFA). The attack allowed the unauthorized party to take control of the SEC's cell phone number associated with the account. The SEC's account was used to falsely claim the approval of bitcoin ETFs, raising concerns about the SEC's security practices. The regulator is currently investigating the details of the attack with the help of various agencies.

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