The U.S. Securities and Exchange Commission’s (SEC) account on X (formerly Twitter) was briefly compromised on Tuesday, January 9, sending shockwaves through the cryptocurrency market and raising serious questions about the agency’s cybersecurity practices. A fake post announcing the approval of Bitcoin exchange-traded funds (ETFs) caused Bitcoin’s price to spike before the SEC confirmed the hack and disavowed the information.
A fake announcement and market mayhem
Shortly after 4 p.m. Eastern Time, a post appeared on the SEC’s X account claiming it had approved Bitcoin ETFs for listing on all registered national securities exchanges. The post, complete with a picture of SEC Chair Gary Gensler, quickly spread like wildfire, triggering a surge in Bitcoin’s price.
