--- title: "SEC Twitter Account Hacked to Post Fake Bitcoin News" description: "Regulators had to do some emergency damage control after the X-formerly-Twitter account of the SEC got hacked on Tuesday." date: "2024-01-10" modified: "2024-01-10" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/sec-twitter-account-hacked-fake-bitcoin-news" categories: - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "cryptocurrencies" - "the digest" --- # SEC Twitter Account Hacked to Post Fake Bitcoin News ![Regulators had to do some emergency damage control after the X-formerly-Twitter account of the SEC got hacked on Tuesday.]() *\Image: Getty / Futurism\* ## Fake News Regulators had to do some emergency damage control after the X-formerly-Twitter account of the Securities and Exchange Commission got hacked on Tuesday. In a since-deleted post, the account claimed that the regulator had approved a Bitcoin exchange-traded fund (ETF) "on all registered national securities exchanges," which sent the price of Bitcoin soaring to almost $48,000 before plummeting to below $46,000 [within just minutes](). That's likely because SEC chairman Gary Gensler quickly chimed in from his personal account, tweeting that the account was "compromised." "The SEC has not approved the listing and trading of spot bitcoin exchange-traded products," he added. ## Held to Account The incident once again highlights the volatility of the digital token and the growing anticipation of a [potential SEC announcement]() this week that could see the potential approval of a "spot Bitcoin ETF." Such an ETF would allow brokers to directly invest in the digital currency in a more regulated manner, thereby potentially allowing crypto to take a step forward in terms of being accepted by mainstream financial markets. The hope of such an approval is already having knock-on effects, with cryptocurrency Ether [jumping]() today over widespread optimism. So who's to blame for the gaff? In an update, X [said]() that according to its "preliminary investigation," the "compromise was not due to any breach of X's systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party." In other words, the SEC should probably invest some more time dialing in its cybersecurity measures before making any major Bitcoin-related announcements. **More on crypto:** [*Guy Who Stole Billions in Bitcoin Lived a Sad Life*]() ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()