This breach, which occurred on Tuesday, has raised concerns about cybersecurity not only within the agency but also on the social media platform itself. The SEC is working closely with law enforcement, including the FBI and the Department of Homeland Security, to address the incident.
The confusion surrounding this incident began when the hacked post appeared on the SEC's X account. The post claimed that the SEC had granted approval for #Bitcoin ETFs to be listed on registered national securities exchanges. It also stated that these approved Bitcoin ETFs would be subject to ongoing surveillance and compliance measures to ensure investor protection.
As investigation into this incident continues, the SEC is focused on addressing any potential vulnerabilities in its cybersecurity infrastructure to prevent future breaches.
In a surprising move, the SEC announced the approval of listing and trading spot bitcoin Exchange-Traded Funds (ETFs) the day after the incident. This development signals a breakthrough for the crypto industry, as it has long sought to attract more traditional investors through ETFs.
As of Friday evening, bitcoin had experienced a 7.6% decline over a 24-hour period.
