The official Twitter account of the US Securities and Exchange Commission (SEC) was hacked yesterday, leading to the posting of an unauthorized message that caused the market price of Bitcoin to surge. The false message claimed that the SEC had approved the listing and trading of spot Bitcoin exchange-traded funds (ETFs). The tweet appeared convincing, as it included an image quoting SEC chairman Gary Gensler. However, Gensler himself confirmed that the news was false and that the SEC’s official account had been hacked. Once the SEC regained control of its account, it promptly confirmed the breach and reiterated that no decision had been made regarding the listing and trading of Bitcoin ETFs. The incident potentially caused financial losses for some investors, and at least one scammer took advantage of the situation by creating a fake SEC account and directing victims to a refund site, which turned out to be another scam. The irony of the situation is not lost on observers, as the SEC is responsible for investigating market manipulation and may now need to investigate itself.
Key Points:
1. The official Twitter account of the SEC was hacked, leading to the posting of a false message about the approval of Bitcoin ETFs.
2. The tweet caused the price of Bitcoin to surge temporarily before being debunked by SEC chairman Gary Gensler.
3. The SEC swiftly regained control of its account and confirmed the hack, emphasizing that no decision had been made regarding Bitcoin ETFs.
4. Some investors may have suffered financial losses due to the false information.
5. A scammer took advantage of the situation by creating a fake SEC account and directing victims to a refund site, which was also a scam.
6. The incident raises questions about the SEC’s ability to investigate market manipulation and may result in a self-investigation.