The account @SECGov posted on the platform, formerly known as Twitter, that the agency had approved a Bitcoin exchange-traded fund for listing on national exchanges. The posting occurred shortly after 4 p.m. and was viewed by millions of people before the SEC took back control and announced that the earlier statement was false. SEC Chairman Gary Gensler later Posted on x That the agency's “account was compromised, and an unauthorized tweet was posted. The false post sent Bitcoin prices soaring for a short period of time, so anyone with information about the scam could make big profits. It is unclear whether such accounts include special security arrangements, but it would be surprising if a SEC account does not include at least a minimal form of two-factor authentication.

Source: Washington Post January 10, 2024 09:47 UTC