The United States Securities and Exchange Commission (SEC) has recently faced a security breach due to the lack of two-factor authentication (2FA) on its main X account. This lapse in security allowed a hacker to gain unauthorized access to the account, causing a significant disturbance in the crypto markets with a false confirmation of a spot Bitcoin ETF from the SEC’s official account.

The X Safety team, in a post dated January 10, revealed that the breach was not a result of any compromise in X’s systems. Instead, it was due to an unidentified individual gaining control over the phone number associated with the @SECGov account through a third party. This method of hacking is commonly referred to as a SIM swap hack.

It was also confirmed that the SEC’s account did not have 2FA enabled at the time of the breach. This revelation has led to a wave of criticism and humor, with blockchain expert ZachXBT repackaging SEC Chair Gary Gensler’s own advice on social media security in a humorous comment.

Elon Musk, the owner of X and CEO of Tesla, also took this opportunity to refute an earlier claim that the SEC hack was a result of a breach in X’s own internal systems. Musk criticized the legacy media for their handling of the situation.

This is an ongoing situation and further updates will be provided as more information becomes available.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Gary Gensler, Elon Musk, ZachXBT
Companies	Tesla, X Safety team, United States Securities and Exchange Commission
Currencies	Bitcoin
Securities	None