SEC attributes X account compromise before ETF approval to 'SIM swap' attack.

The SEC has blamed a "SIM swap" attack for an unauthorized social media post that caused market chaos and erased billions of market value in just minutes. The post claimed the SEC had granted money managers approval to launch spot bitcoin ETFs, which was later approved. The SEC, a longtime opponent of the cryptocurrency industry, is currently cracking down on major players.

January 22, 2024
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