Major Crypto True Crime Tale: Bogus SEC Tweet Unleashes Havoc! In a startling development within the crypto world, the official Twitter account of the U.S. Securities and Exchange Commission (SEC) was compromised. A false statement about the approval of Bitcoin Spot ETFs, eagerly anticipated today, was erroneously broadcast. In October, the SEC cautioned: "Be skeptical of what you read online. The most reliable source about the SEC? The SEC itself."
Yet, in a surprising turn of events, at 22:11 yesterday, the SEC's hijacked Twitter account falsely declared the approval of Bitcoin Spot ETF applications.
SEC Chairman Gary Gensler promptly clarified: "Our account was hacked! The ETF announcement is not true."
The market reaction was swift and severe: Within an hour, trades worth $84 million were liquidated, with $41 million in shorts and $43 million in longs vanishing.
Twitter Security reported: "The @SECGov account was compromised, not through a breach of X-systems, but by an unknown individual gaining control over a phone number associated with the account. Notably, two-factor authentication was not active at the time."
A poignant comment from a Twitter user underscored the irony: "Those responsible for 'protecting investors' and 'regulating' #Bitcoin can't even secure their own account with basic 2FA..."
This incident raises a question: Did the SEC account ever have two-factor authentication in the past 12 months?
@Cryptocurrency_Inside
