In a great turn of irony, the SEC got SIM-swapped the day before the Bitcoin ($BTC) Spot ETF approval. While supposedly keeping investors safe, the SEC forgot the most basic security protections.
Safety is no laughing matter; all it takes is carelessness. It can lead to X accounts being compromised. Or even worse, a wallet being compromised. Learn how to invest safely in this presale ICO today and discover the beauty of understanding how to buy new crypto before listing.
The SEC’s Security Failure: Why 2FA Is Important
The SEC, the governing body responsible for protecting the public against misconduct, fraud, and manipulation, came under attack and ironically engaged in market manipulation. A hacker gained access to the SEC’s X account, likely via a sim swap attack, and prematurely announced that the SEC had approved a swathe of Bitcoin ETFs. Naturally, this led $BTC to spike, but then the announcement came that the account had been compromised, and $BTC plummeted nearly 6%.
But how did a hacker gain access to the SEC’s X account? Surely, as a government organization, it must have strict security protocols. Sadly, this entire charade could have been avoided if the SEC had used 2FA, such as an authenticator. Sim swaps have become increasingly prevalent because of the ease of access- people only need to provide basic personal information or claim they lost their phone.
This blatant lapse in judgment does nothing for the SEC’s optics, which have increasingly come under fire as US courts have continued to rule against them. Luckily, investors can learn this lesson and the importance of multi-factor authenticators and authenticator applications from the SEC’s mistake instead of their own.
Galaxy Fox ($GFOX) Ranked Most Secure ICO
Galaxy Fox ($GFOX) is a presale coming into the spotlight and is an ideal opportunity for new investors to learn how to buy new crypto before listing. It has passed rigorous security audits, and its dual P2E/ memecoin nature makes it one of the year’s most anticipated tokens. No other projects benefit from dual narrative propulsion. Galaxy Fox is where GameFi meets the memecoin genre.
Investors must consider narratives when considering which crypto to buy today for long-term exposure to the industry. GameFi is touted as one of 2024’s fastest-growing verticals and Galaxy Fox’s addictive…