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Bitcoin Price Plummets Due to Hacked SEC Tweet | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker


SEC Chairman Gary Gensler

The Security and Exchange Commission’s X account was hacked on Tuesday afternoon, sending an untrue tweet that the Bitcoin ETF was approved. Chairman Gary Gensler quickly tweeted from his personal account that the tweet was false and the result of a hack. In the following 15 minutes, the price of Bitcoin shot up to almost $48,000 and then quickly fell to below $46,000.

The price of Bitcoin spiked and then plummeted on Tuesday afternoon.

The price of Bitcoin spiked and then plummeted on Tuesday afternoon.

The price of Bitcoin spiked and then plummeted on Tuesday afternoon.

“The SEC’s @SECGov X/Twitter account has been compromised,” an SEC spokesperson confirmed in an email Tuesday afternoon. “The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff.”

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Hacked tweet from the SEC. The information here is false at the time of posting.Hacked tweet from the SEC. The information here is false at the time of posting.

Hacked tweet from the SEC. The information here is false at the time of posting.

Hacked tweet from the SEC. The information here is false at the time of posting.

The hacked SEC account raises a question of cybersecurity on X. It’s become quite common for major institutions to use X accounts as their major source of corporate communication, but this event calls out the danger in that practice. Alternatively, it’s possible that the SEC itself had low security on its X account.

The Commission tweeted this in October, which looks pretty silly now: “Careful what you read on the internet. The best source of information about the SEC is the SEC.” It seems even the SEC’s X account is not the best source of information about the SEC.

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