Breaking: X Confirms US SEC Account Was Compromised, Amid Bitcoin ETF Hype

The U.S. Securities and Exchange Commission’s (SEC) Twitter (X) account was compromised by an unidentified individual, the Safety Team of the social media platform confirmed after conducting a preliminary investigation. Earlier, the crypto ecosystem went into disarray after the Bitcoin ETF announcement came from the SEC X Account was later claimed to be an unauthorized post.

Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?

US SEC X Account Hacked

In an unexpected turn of events ahead of the expected approval of the spot Bitcoin ETF, a tweet from the SEC X handle said the ETFs were approved. This led to a sudden jump in the Bitcoin (BTC) Price, only to get dumped with Chair Gary Gensler’s claim that the account was compromised and the post was in fact an unauthorized one. This had also led to speculation that the SEC Chair was blaming the entire episode on hacking and was a result of a premature communication by an employee at the Commission.

The Safety Team of X platform released an official statement about the incident:

“We can confirm that the account SEC was compromised and we have completed a preliminary investigation. Based on our investigation, the compromise was not due to any breach of X’s systems.”

The hacking was due to an unidentified individual obtaining control over a phone number associated with the SEC account through a third party, the Safety Team explained.

Demand For Probe

The hacking of the SEC X account led to widespread criticism, as unauthorized communications could lead to unfair and manipulative practices. In this case, the pumping and dumping of Bitcoin led to millions of dollars worth of Bitcoin changing hands, at the cost of huge volatility in BTC Price. A demand for a probe on the incident is coming from several quarters, including US Congressmen.

Also Read: Bitcoin ETF Race Heats Up as Firms Reduce Fees in Final Push Before SEC Verdict

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