January 10, 2024 at 03:11PM
The SEC’s Twitter account was hacked, leading to a fraudulent post about ETF approval. The SEC launched an investigation, confirming the compromise was due to an unknown individual gaining control of a phone number associated with the account. The incident caused a 5% increase in Bitcoin’s price and underscored the impact of compromised social media accounts.
Key takeaways from the meeting notes:
1. The SEC’s Twitter account, @SECGov, was compromised on Jan. 9, and false information about approving ETFs was posted and quickly deleted.
2. The hack was due to an unidentified individual gaining control over a phone number associated with the @SECGov account through a third party.
3. X confirmed the hack and stated that two-factor authentication was not enabled when the account was compromised.
4. The price of Bitcoin rose by about 5% after the false post, illustrating the potential impact of compromised social media accounts.
5. An industry expert, Darren James, highlighted the potential financial impact of the incident, as the investment community awaited the SEC’s announcement regarding Bitcoin.
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