The U.S. Securities and Exchange Commission’s X account was compromised, leading to the sharing of an unauthorized tweet about bitcoin ETFs. The SEC confirmed the hacking incident, clarifying that the tweet in question was not made by the SEC or its staff. The false post, which suggested approval for spot bitcoin ETFs, was quickly deleted after being up for about 30 minutes, causing a brief surge in Bitcoin’s price.
Key Takeaway
The SEC’s X account was hacked, leading to the unauthorized sharing of a tweet falsely suggesting the approval of spot bitcoin ETFs. The incident briefly impacted Bitcoin’s price, demonstrating the susceptibility of digital asset markets to misinformation.
SEC Confirms Hacking of X Account
On Tuesday afternoon, a spokesperson for the U.S. Securities and Exchange Commission (SEC) confirmed that the SEC’s @SECGov X/Twitter account had been compromised. The unauthorized tweet regarding bitcoin ETFs, which falsely indicated approval by the SEC, was not issued by the SEC or its staff. The post was swiftly removed after being live for approximately 30 minutes. Following the incident, SEC Chair Gary Gensler also addressed the situation, emphasizing that the SEC had not approved the listing and trading of spot bitcoin exchange-traded products.
Impact on Bitcoin’s Price
Following the unauthorized tweet, Bitcoin’s price experienced a notable spike, reaching nearly $48,000. However, the price has since decreased to approximately $45,700, as reported by CoinMarketCap data. The false information shared through the compromised SEC account briefly influenced the cryptocurrency market, highlighting the potential impact of misinformation on digital asset valuations.
