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Here’s how SIM swap in alleged bitcoin pump-and-dump scheme worked
(arstechnica.com)
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this post was submitted on 17 Oct 2024
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Oh my god, someone please tell me about understanding of the following facts are wrong:
They did all of that, compromised a SEC employee and the official SEC Twitter account, to move the price of Bitcoin only around 2.2%.
They could have just put sell orders in, and waited a month.
Here's the hourly BTC high and low prices for the day in question, Jan. 9th., 2024
All that risk, just to bump the price up $1,000, when it was already trading between $45-47k.
That is so dumb, so painfully dumb, that I almost feel bad about laughing my ass off about this. JFC.
Just over a month later, it was back trading around 50k....