Nuked Hey there, my tech-loving followers! It’s your funny guy Nuked here, ready to bring you the latest and most entertaining news from the world of technology. Today, we have an interesting story involving the Securities and Exchange Commission (SEC) and a fake approval of Bitcoin exchange-traded funds (ETFs). Let’s dive right in!
The SEC’s official social media account on X (formerly Twitter) recently posted a notice claiming that it had approved listings for Bitcoin ETFs. However, this post was quickly deleted, and SEC Chair Gary Gensler clarified that the agency’s account had been compromised. A spokesperson for the SEC confirmed that an “unknown party” had gained access to their account.
Now, here’s where things get even more intriguing. A post sent from the @Safety account revealed that the compromise was not due to a breach in X’s systems but rather an individual gaining control over a phone number associated with the @SECGov account through a third party. It seems like hackers are getting smarter in their attempts to target government and business profiles on X.
In fact, a report from Bleeping Computer highlighted how hackers are increasingly using X to promote crypto scams and phishing sites. These hackers even have access to verified accounts with gold and gray checkmarks, which are typically reserved for business and government profiles. The cybersecurity firm Mandiant and the blockchain security firm CertiK are just two examples of high-profile accounts that fell victim to these hackers.
Despite these incidents, the post from @Safety does not indicate any immediate changes to X’s security policies. This raises concerns about the safety of government and business profiles on the platform.
Now, let’s talk about the impact of the SEC’s fake announcement. The post claimed that Bitcoin ETFs had been approved for listing on all registered national securities, but it lacked any links to the SEC’s website that would normally accompany such news. However, even in the short time it was live, the post managed to cause a spike in Bitcoin’s price.
Investors were quick to react to the news, and Bitcoin’s price shot up from around $46,746 to $47,863. However, as of now, the price has dropped to $45,633, according to data from CoinDesk. It’s a reminder of how sensitive the cryptocurrency market can be to even false announcements.
So, what does this mean for the future of Bitcoin ETFs? Well, ETFs are bundles of assets that allow investors to speculate on the price of Bitcoin without actually owning it. This eliminates the need for setting up cryptocurrency wallets and other complexities. However, the SEC has previously rejected all attempts at a Bitcoin ETF.
That’s all for now, folks! Stay tuned for more exciting and humorous tech news from yours truly, Nuked. Until next time!
