SEC X Account Hacked: Bitcoin ETF Approval Claims Are False

The SEC’s X account was compromised and a fake post claiming that the agency had green lit plans for the products fueled a brief surge in the price of the world’s leading cryptocurrency. This incident underscores the volatility and potential for misinformation within the crypto market. A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot-Bitcoin exchange-traded fund quickly morphed into a major crisis of confidence following the breach.

Reports confirm that after breaking into the account, the hackers falsely wrote on the SEC’s official account that the regulator had approved spot Bitcoin ETFs, which are exchange-traded funds designed to track the price of Bitcoin. This false announcement sent shockwaves through the financial world.

The U.S. securities regulator said someone briefly accessed its X social media account on Tuesday and posted a fake message saying it had approved exchange traded funds tied to Bitcoin. The SEC immediately refuted the fraudulent post, clarifying that no such approval had been granted.

Investors should be extremely cautious and rely solely on official SEC announcements through verified channels for accurate information regarding Bitcoin ETF approvals. Be wary of information circulating on social media and other unverified sources.

Stay informed and protect yourself from misinformation in the fast-paced world of cryptocurrency investments.