SEC's X Account Hijacked in Bitcoin Pump-and-Dump Scheme
2025-02-12
An Alabama man pleaded guilty to identity theft and access device fraud for hijacking the US Securities and Exchange Commission's (SEC) X account to artificially inflate Bitcoin's price. He and his co-conspirators falsely claimed the SEC approved Bitcoin ETFs. Bitcoin's price surged before plummeting after the SEC's chairman debunked the claim. The hack exploited SIM swapping, a social engineering technique to gain control of accounts. This case highlights the vulnerability of cryptocurrency markets and the dangers of SIM swapping.
Tech
SIM Swapping