SEC Reveals Twitter Account Hack Tactics That Led To Fake Spot Bitcoin ETF Announcement
Portfolio Pulse from Murtuza Merchant
The SEC was targeted in a 'SIM swap' attack, leading to a false announcement on their Twitter account about the approval of spot Bitcoin ETFs. The fake news was quickly corrected by SEC Chair Gary Gensler, who confirmed the account was compromised. The SEC is investigating the breach with the help of the FBI and other agencies. There is no evidence that the hacker accessed any SEC systems or data beyond the Twitter account.
January 22, 2024 | 10:03 pm
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NEUTRAL IMPACT
The false approval of a spot Bitcoin ETF by the SEC's hacked Twitter account could have temporarily influenced Bitcoin's price, but the quick correction by the SEC Chair minimized potential impact.
While the false announcement could have led to a short-term spike in Bitcoin's price, the immediate correction by the SEC likely prevented any significant or lasting impact on Bitcoin's market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The article references a past SIM swap attack on Ethereum co-founder Vitalik Buterin, but there is no direct impact on Ethereum's price from the SEC's Twitter account hack.
The mention of Ethereum's co-founder's past experience with a SIM swap attack does not have a direct bearing on Ethereum's current market performance or price.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 30