SEC probes cybersecurity breach amid Bitcoin ETF approval rumours

The US Securities and Exchange Commission (SEC) faced a major cybersecurity breach and public trust fallout on January 9, after its social media account was hacked to falsely announce the approval of spot Bitcoin exchange traded funds (ETFs). Hackers briefly took control of the SEC's X account and posted a statement claiming the agency had greenlit the long awaited products, causing a temporary price surge in Bitcoin.

The incident sparked an investigation by US authorities and renewed criticism of the SEC's cybersecurity and stance on cryptocurrencies. A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot Bitcoin exchange traded fund quickly morphed into a major cybersecurity incident on January 9.

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