The official Twitter account of the U.S. Securities and Exchange Commission, X, has been the victim of a cyber attack, according to a spokesperson who spoke with TechCrunch on Tuesday.
“The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” the spokesperson confirmed. This was also shared on the platform soon after.
The tweet, which has since been removed, falsely stated that the SEC had approved the listing and trading of spot bitcoin ETFs. This caused a frenzy among news outlets and online personalities, causing Bitcoin’s price to spike near $48,000 before falling to $45,700, according to CoinMarketCap data.
However, at around 4:30 p.m. EST, SEC Chair Gary Gensler took to Twitter to clarify the situation, writing, The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.
This incident serves as a reminder of the vulnerability of online platforms and the importance of verifying information before reporting it. The SEC is currently working to resolve the issue and prevent any further unauthorized posts.