SIM Swap Attack Shook the US SEC
The U.S. Securities and Exchange Commission, the watchdog of Wall Street, gets its Twitter account hacked, sending markets flying in a false announcement. Sounds crazy, right? But in January 2024, this unthinkable scenario became a reality, exposing a vulnerability that sent shivers down the spines of investors and cybersecurity experts alike. The culprit? A sophisticated, yet surprisingly simple attack known as SIM swapping.
So, what exactly is a SIM swap attack?
Think of it as a high-tech hijacking of your phone number. Attackers trick your mobile carrier into transferring your number to a SIM card they control. Suddenly, their phone rings and buzzes with your calls, texts, and yes, even two-factor authentication codes. With your digital identity in their hands, they can wreak havoc, from stealing money to, as in the SEC case, manipulating markets.
