‘Bitcoin ETF Fake News’ incident caused by SEC hacker, X has been breached again

The SEC said it would approve the listing of Bitcoin ETF, but it turned out to be a hack
X, which claims that there is a loophole in the system, secretly ‘passes responsibility’ to the SEC
From Obama to the founder of Ethereum, cases of damage are piling up

The lax cybersecurity of the social network service (SNS) The lax security of X, which had been a problem for several years, ultimately caused confusion throughout the market. On the 10th (local time), foreign media such as Bloomberg and Reuters reported that the U.S. Federal Bureau of Investigation (FBI) had begun investigating a suspected hacking of the SEC X account, citing the SEC announcement.

Announcement of ‘Bitcoin ETF Approval’ Turns out to be the work of hackers

On the 9th, major foreign media such as CNBC and Reuters reported, citing the SEC’s The post said, ‘We approve the listing of #Bitcoin as an ETF on all registered stock exchanges in the United States.’ However, the SEC deleted the post about 10 minutes after it was posted and later corrected the fact, saying, “Unidentified people posted false information due to hacking of the X account.”

As market confusion intensified, “It is,” he claimed. They also explained that ‘2-step authentication’ was not enabled on the SEC account at the time of the hacking. X currently provides an SMS (text message)-based two-step authentication service only to users of the paid subscription product ‘Blue’.

Despite X’s explanation, market anxiety did not subside. “It’s very concerning to see security features being scaled back on the “An incident like this can be a huge opportunity to provide false information,” he pointed out. Meanwhile, on the 10th, a day after the hacking incident, the SEC approved the Bitcoin spot ETF applied by 11 asset management companies, including Blackrock.

Obama also suffered from hacking that lasted for years

X’s poor security has been consistently pointed out as a problem for several years. In 2020, the Twitter accounts of famous people, including Microsoft (MS) founder Bill Gates and former President Barack Obama, were hacked. At the time, many celebrity accounts, including these people, posted fraudulent posts saying, “If you deposit virtual currency into your Bitcoin wallet (software that stores Bitcoin), you will receive double the amount back.” After the incident, more than $2 (approximately 10 million won) was found to have flowed into the Bitcoin wallet.

Hacking damage is not limited to celebrities. In July 2022, the personal information of 7 million Twitter users was leaked online, causing controversy, and in November of the same year, it was confirmed that data of hundreds of millions of Twitter users had been distributed through the dark web. Early last year, it was reported that the data of 540 million Twitter users was released for free on a dark web hacking forum. 11GB of information related to Twitter accounts, including account name, account creation date, and number of followers, was secretly distributed.

In September last year, the X account of Vitalik Buterin, the founder of the cryptocurrency ‘Ethereum’, was hacked. The hacker used Buterin’s account to post an article announcing the release of a non-fungible token (NFT) from software developer ConsenSys and attached a link to malicious hacking. They committed a fraud crime by accessing the wallets of victims who accessed the link and stealing virtual assets. It is said that a total of $9 (approximately 69 million won) in virtual asset damage occurred before the post was deleted. As cases of X hacking damage pile up again due to the SEC’s ‘Bitcoin ETF’ incident, user distrust is only growing.