The US Securities and Exchange Commission (SEC) faced a major cybersecurity breach and public trust fallout on January 9, after its social media account was hacked to falsely announce the approval of spot Bitcoin exchange-traded funds (ETFs).
Hackers briefly took control of the SEC’s X account and posted a statement claiming the agency had greenlit the long-awaited products, causing a temporary price surge in Bitcoin. The incident sparked an investigation by US authorities and renewed criticism of the SEC’s cybersecurity and stance on cryptocurrencies.
A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot Bitcoin exchange-traded fund quickly morphed into a major cybersecurity incident on January 9.
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Published: 10 Jan 2024, 07:48 AM IST
