The SEC X Account Breach
The United States Securities and Exchange Commission (SEC) official X account was breached, resulting in the spread of fake news about the approval of a spot Bitcoin ETF. The hacker gained access to the account by taking control of the associated phone number. They posted a false announcement about the approval of the ETF filings and liked two posts from non-SEC accounts. However, no harm was done to SEC systems or data, and the public was informed of the situation through Chairman Gary Gensler’s official X account.
Retrieval of the SEC X Account
The Office of Public Affairs staff successfully retrieved the SEC X account and deleted the hacker’s initial post while unliking the other posts. A new post was made from @SECGov to acknowledge the compromise. The hacker’s access to the account was retracted shortly after, between 4:40 pm ET and 5:30 pm ET.
Impact on Bitcoin
The announcement of the fake spot Bitcoin ETF approval caused significant volatility in Bitcoin’s price. It dropped from $48,000 to around $46,000 following the news. Since then, Bitcoin has continued to decline and is currently trading at $42,773.84, down by 2.5% in the past 24 hours.
Hot Take: SEC X Account Breach Raises Concerns
The breach of the SEC X account highlights potential vulnerabilities in social media platforms used by regulatory bodies. False information can quickly spread and impact market sentiments, leading to significant price fluctuations. This incident serves as a reminder for investors to exercise caution and verify news from official sources before making any investment decisions.
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