Despite the spread of false news about Bitcoin ETF approval, Bitcoin’s price surged to $47,800, demonstrating the market’s resilience and readiness for integration with mainstream financial systems. This incident, however, raised security concerns and skepticism within the crypto community, particularly about the SEC’s internal security measures.
The SEC’s decision on the much-anticipated Bitcoin ETF was unexpectedly deferred to Monday following a possible insider hack of the SEC’s account. This development, contrary to earlier expectations, has increased market uncertainty. Safety X has officially confirmed the compromise of SEC X accounts, contributing to the unfolding situation.
Safety X confirmed the compromise of the SEC’s Twitter account, SECGov. Their investigation revealed that the breach occurred through unauthorized access to a phone number associated with the account and not due to a system failure on their part. The account was not protected by two-factor authentication (2FA) at the time of the compromise. They have since emphasized the importance of this additional security layer.
The crypto community expressed skepticism about the lack of 2FA on a critical regulatory account, especially since SEC Chair Gary Gensler has been an advocate for robust security measures. Fox Journalist Eleanor Terrett highlighted this irony in her tweet, questioning why Gensler did not follow his own advice.
The cryptocurrency market, known for its volatility and susceptibility to manipulation, has been rife with speculation about this incident. Some have voiced suspicions on Twitter, questioning the possibility of a targeted attack on Gensler’s account in relation to the Bitcoin ETF news.
Despite the turmoil and skepticism, Bitcoin’s price remarkably rose to $47,800, showcasing the market’s resilience. This surge provides a glimpse into what could happen if the Bitcoin ETF were to be approved. At the moment of this writing, Bitcoin is priced at $45,444.48, reflecting a decrease of 2.55% over the last 24 hours and a climb of 0.34% over the past week.
This event has underscored Bitcoin’s readiness for Wall Street and its robustness against negative news. The small negative impact following the fake ETF approval news is a testament to the cryptocurrency’s resilience and potential for growth.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Gary Gensler, Eleanor Terrett, Marcel Knobloch |
| Companies | Safety X, Crypto News Flash, Securities and Exchange Commission, Fox Journalist |
| Currencies | Bitcoin |
| Securities | None |
