SEC Twitter Hijacked, Hacker Posts Fraudulent Bitcoin ETF Approval, BTC Jumps to Multi-Year High

The price of BTC quickly reversed course after SEC chairman Gary Gensler took to Twitter to debunk the fraudulent Bitcoin ETF approval claims.

Bitcoin (BTCUSD) holders experienced a wild ride today with the price of BTC surging to a new multi-year high in response to a tweet posted on the U.S. Securities and Exchange Commission (SEC) Twitter account claiming to have given Bitcoin ETFs the green light to list on all major US stock exchanges.

The tweet, which has since been deleted, read as follows:

“Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFS will be subject to ongoing surveillance and compliance measures to ensure continued investor protection. Today’s approval enhances market transparency and provides investors with efficient access to digital asset investments within a regulated framework.”

Since anything posted on the internet is for the most part, there forever, regardless of being deleted by the original poster, a screenshot of the fraudulent post, as seen below, is making the rounds online.

As expected, Bitcoin holders were thrilled with the announcement from the SEC along with the massive bump in the price of BTC.

However, that excitement was short-lived as soon after it was reported by the SEC that its Twitter account had been hacked and the previous post regarding Bitcoin ETF approval was posted fraudulently by the hacker.

SEC chairman Gary Gensler broke the bad news via Twitter, writing:

“The SECGov Twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”

The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

— U.S. Securities and Exchange Commission (@SECGov) January 9, 2024

An investigation into the illegal hack and fraudulent post is likely already underway, so stay tuned for further details on this developing story.

Bitcoin (BTC) is currently changing hands at $61,036.91, down -2.72% on the day. YTD, BTC is up +8.4%.

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