How do they let this happen?
For 15 minutes, the cryptocurrency industry was in euphoria, only to be comedically deflated by a hacked tweet.
In a bizarre turn of events, the usually staid and stern U.S. Securities and Exchange Commission (SEC) found itself at the center of crypto comedy, leaving the cryptocurrency community in stitches and investors on a rollercoaster of emotions.
The false SEC Twitter (X) Bitcoin ETF approval tweet sent shockwaves through the market. Bitcoin almost touched $48,000! After the news, it fell back down to around $45,00.
What started as a groundbreaking tweet approving Bitcoin ETFs turned into a total plot twist, leaving everyone questioning the security measures in place at one of the most significant financial oversight institutions.
So, what happened? What’s to come?
The Misinformation Mayhem
The saga began with an official tweet from the SEC’s Twitter account, signaling an unexpected reversal in the agency’s stance on Bitcoin ETFs. Investors worldwide were gearing up for a celebration, anticipating a breakthrough moment for cryptocurrency adoption. However, the revelry was short-lived.
Here’s the original tweet. Gary Gensler, Chair of the SEC, stating confirmation.
If only it were true…
The Plot Twist
Exactly fifteen minutes later, Gary Gensler hopped on the SEC’s account and swiftly clarified that their Twitter (X) had fallen victim to a cyber attack.
The purported approval of Bitcoin ETFs was nothing more than a hoax, shattering the dreams of crypto enthusiasts and punctuating the event with a touch of irony. The very institution responsible for safeguarding financial integrity had become a victim of a cybersecurity lapse, leaving many to…