U.S Security and Exchange Commission X Account hacked

U.S Security and Exchange Commission X account has been hacked and compromised, resulting in an unauthorized tweet being posted.

The SEC has not approved the listing and trading of spot Bitcoin exchange-traded products.

The hackers posted the above tweet.

This is the unauthorized tweet from the SECGov account, which has been hacked and is still up at this time.

The tweets about Bitcoin being for listening has been deleted.

The U.S. Securities and Exchange Commission (SEC) said on Tuesday that someone posted a fake message on its social media account on platform X, claiming that it had given the much-anticipated approval for spot bitcoin exchange traded funds.

However, the Securities and Exchange Commission (SEC) said it has not yet approved spot bitcoin ETFs and its account on X, the platform formerly known as Twitter, had been compromised briefly by an unknown party after about 4 p.m. Eastern time (2100 GMT).

The X platform said the SEC did not have two-factor authentication enabled at the time the account was compromised and the hack was not due to any breach of X's systems, citing a preliminary investigation.

The price of bitcoin shot up to around $48,000 on the fake post, before falling to below $45,000 minutes later.

The posting came as the SEC was widely expected on Wednesday to finally approve a batch of ETFs that track the price of bitcoin, in a potential watershed moment for the crypto industry.

The SEC might delay or withhold approval for spot bitcoin ETFs as a result of the hack.

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