SEC’s X account hacked: SEC denies approving Bitcoin ETFs after fake post on its X account

The U.S. Securities and Exchange Commission (SEC) announced late Tuesday that its social media account on X (formerly known as Twitter) was briefly accessed on Tuesday. An unidentified party posted a fake message claiming approval of exchange-traded funds for Bitcoin, a development eagerly anticipated by the crypto industry.

The SEC clarified that it has not yet approved spot bitcoin ETFs. The compromise of the SEC’s account on X occurred briefly around 4 pm Eastern time, but the unauthorized access has been terminated, according to the agency.

In a post on X, SEC head Gary Gensler said that SEC’s X account has been compromised:

“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.”

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.

— Gary Gensler (@GaryGensler) January 9, 2024

The SEC stated its intention to collaborate with law enforcement in investigating the hack and any related activities. Joe Benarroch, X’s head of business operations, assured that the SEC’s account was secure and that the agency is looking into the root cause of the compromise.

The misleading post falsely claimed that the SEC had approved bitcoin ETFs on all registered national securities exchanges, accompanied by a purported quote from SEC Chair Gary Gensler. Following the post, the price of bitcoin increased, and the misinformation was picked up by Reuters and other news outlets monitoring the SEC’s account.