Lessons from SEC’s X account hack – Week in security with Tony Anscombe

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The cryptocurrency rollercoaster never fails to provide a thrilling ride – this week it was a drama surrounding the hack of SEC’s X account right ahead of the much-anticipated decision about Bitcoin ETFs

12 Jan 2024

The US Securities and Exchange Commission’s (SEC) X account was hacked this week to post an unauthorized tweet announcing the approval of spot Bitcoin Exchange Traded Funds (ETFs). The post was up for some 30 minutes and even though the SEC did, some 24 hours later, announce the official approval of the ETFs, the first (and fake news) announcement created a drama that, among other things, sent the price of Bitcoin briefly up as well as left a sour taste in the mouths of many people.

The hack was not due to a breach of the social media platform’s systems. What else do we know about the account hack, how did it happen, and what are the lessons to be learned from it? Find out in the video.