X didn't immediately respond to CNBC's questions about whether the platform has continued to cooperate with investigators, or whether the company plans to change its design or any features associated with government agency accounts in response to the SEC account breach.Ĭybersecurity expert Chris Pierson tells CNBC that SIM swap attacks have become a much bigger security threat for government agencies and corporations. Musk also retweeted a post from Twitter Safety following the incident, which said the compromise "was not due to any breach of X's systems." X owner and Chief Technology Officer Elon Musk mocked the SEC, an agency he has clashed with for years, after its account on X was breached. The agency had the ability to switch two-factor authentication back on for their X account and was not reliant on X to do so. "MFA currently is enabled for all SEC social media accounts that offer it." "Once access was reestablished, MFA remained disabled until staff reenabled it after the account was compromised on January 9," the statement continued. "While multi-factor authentication (MFA) had previously been enabled on the X account, it was disabled by X Support, at the staff's request, in July 2023 due to issues accessing the account," the SEC said in the statement. Since the SEC did not have two-factor authentication enabled, the SIM swap and subsequent password change were the only two steps necessary to gain full access to the agency's account. With access to the phone number, the unidentified individual then reset the account password. "Two days after the incident, in consultation with the SEC's telecom carrier, the SEC determined that the unauthorized party obtained control of the SEC cell phone number associated with the account in an apparent 'SIM swap' attack," an SEC spokesperson said in a statement.Ī SIM swap is when a phone number is transferred to another device without the permission of the owner, allowing the bad actor to receive SMS messages and voice calls intended for the victim. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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