Twitter Sheds Light on the Background of the SEC's Fake Bitcoin ETF Sharing! - Coin Newsletter

It has been understood how the X account belonging to the SEC, which shared a fake confirmation post about the spot Bitcoin ETF news, was taken over by cyber attackers.

Late yesterday, an official account on X (formerly Twitter) named @SECGov shared that applications for **spot Bitcoin exchange-traded funds (ETFs) have been approved.

Shortly after, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler stated that there was no confirmation yet and that the account in question had been compromised by cyber attackers. After the events, manipulative price movements were seen in the price of Bitcoin.

After this incident, which caused turmoil in the market, the X team launched a technical investigation and revealed how the account was compromised. According to the statement, it was stated that the account belonging to the SEC was accessed through a phone number and that this phone did not have two-factor authentication (2FA) enabled:

According to our investigation, it turned out that the security breach was not caused by any breach of X's systems, but rather by an unidentified person taking control of a phone number associated with his @SECGov account through a third party. In addition, it was found that two-factor authentication was not enabled on the account at the time of the account hack.