X Confirms SEC Hack, Says Account Didn't Have 2FA Turned On

X has revealed that the account for the Securities and Exchange Commission was hacked on Tuesday. The account, which about a much anticipated Bitcoin ruling, thus throwing the crypto world into a , didn’t have two factor authentication activated, which allowed an unknown person to compromise it, the site said.

Late Tuesday night, X’s security team providing details about the incident. That post reads, in part: Ah, 2FA. It truly is an of web security—one that, unfortunately, most people and organizations (including, apparently, social media managers for federal agencies) . Let the SEC’s folly be yet another reminder to you, dear reader, to go and turn that shit on immediately.

Tuesday’s hacking episode temporarily threw the web3 community after the SEC’s compromised account made a post falsely claiming that the SEC had approved the much anticipated that the crypto world has been obsessed with of late. The claims also , as the asset shot up in value temporarily, before crashing back down when it became apparent the news was fake.

The revelation that the SEC account was hacked also seems to throw cold water on that spread throughout the crypto community, the likes of which speculated the SEC had orchestrated the entire episode for vague, nefarious reasons. As it turns out, the nation’s top financial regulator is just really bad at cybersecurity..