SEC's X Account Hacked, False Bitcoin ETF Approval Announced

FBI Investigates as SEC Faces Criticism for Lack of Security Measures

The SEC's official X account was hacked and falsely announced the approval of all spot bitcoin ETFs. The SEC Chair quickly clarified that the account was compromised and the announcement was fake.
The FBI is investigating the hack. Legal experts suggest that if the hacker profited from the post, it might increase their chances of being caught due to a paper trail left by the trades.
The SEC faced criticism for not having two-factor authentication enabled on its X account, a basic security measure.
House Republicans have demanded a briefing from the SEC about the incident, calling the lack of two-factor authentication 'unacceptable'.
The SEC officially approved spot bitcoin ETFs the day after the hack.