SEC hacked X (Twitter) account, posting fake Bitcoin ETF approval notice

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10 Jan 2024

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The social network account of the US Securities Commission (SEC) has been taken over by bad guys, spreading fake news that it has approved the Bitcoin spot ETF.

SEC hacked X (Twitter) account, posting fake Bitcoin ETF approval notice

Early morning of January 10, accountX (Twitter)of the US Securities and Exchange Commission (SEC) was attacked and taken over by bad guys, then posted information that all 11 Bitcoin spot ETF proposals of Wall Street giants had been approved.

The fake post also included a picture of the SEC ChairmanGary Gensler, claiming that having a Bitcoin spot ETF will give investors access to ledger assets within the agency's regulatory framework.

However, Mr. Gensler's The SEC Chairman said that his agency has not yet approved any Bitcoin spot ETF proposals.A representative ofThe SEC announced that it will cooperate with investigative agencies to track down the identity of the attacker. Many US lawmakers interested in the cryptocurrency market also issued statements requesting clarification of the case.

Bitcoin price fluctuated wildly due to the above conflicting information, rising to nearly 48,000 USD when the announcement of approval of the SEC's Bitcoin spot ETF was spread, before plummeting to 44,800 USD when it was personally rejected by Chairman Gary Gensler. cancel.

15m chart of BTC/USDT pair on Binance at 07:40 AM on January 10, 2024

There have been more than 60 million USD of Bitcoin long orders burned in the last 4 hours, accounting for 60% of the total liquidation rate in the cryptocurrency market.

Statistics on liquidation of derivative orders in the last 4 hours, screenshot of CoinGlass at 07:40 AM on January 10, 2024

The crypto community is simultaneously resharing the SEC's statement saying that "The most accurate source of information about the SEC is the SEC" to mock the Securities Commission's hacked Twitter account. This statement was made in mid-October 2023, when the crypto market was alsoIntense pump dump due to fake news about Bitcoin ETF being approved.